Alphatec (NASDAQ:ATEC) CEO Patrick Miles Purchases 115,000 Shares

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles purchased 115,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the acquisition, the chief executive officer owned 5,893,551 shares in the company, valued at $51,922,184.31. The trade was a 1.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Alphatec Trading Down 1.6%

ATEC opened at $8.84 on Friday. The stock has a 50-day moving average of $9.27 and a 200 day moving average of $9.80. The company has a current ratio of 1.89, a quick ratio of 1.07 and a debt-to-equity ratio of 40.35. Alphatec Holdings, Inc. has a 12 month low of $6.82 and a 12 month high of $23.29. The firm has a market cap of $1.37 billion, a P/E ratio of -12.45 and a beta of 0.85.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $213.51 million for the quarter, compared to the consensus estimate of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 earnings per share. As a group, research analysts forecast that Alphatec Holdings, Inc. will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen downgraded Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. TD Cowen boosted their price objective on shares of Alphatec from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a research note on Monday, August 3rd. Stifel Nicolaus lowered their target price on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Finally, Stephens began coverage on shares of Alphatec in a research note on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.40.

Hedge Funds Weigh In On Alphatec

A number of large investors have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new stake in Alphatec in the first quarter worth $29,000. Osterweis Capital Management Inc. purchased a new stake in shares of Alphatec during the second quarter valued at $37,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Alphatec during the second quarter valued at $52,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Alphatec by 157.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock worth $54,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Alphatec by 82.6% in the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock worth $58,000 after buying an additional 3,015 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.