Insider Selling: Alphatec (NASDAQ:ATEC) Director Sells $48,460.50 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) Director Karen Mcginnis sold 6,050 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the sale, the director directly owned 94,671 shares in the company, valued at $758,314.71. This trade represents a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alphatec Stock Performance

NASDAQ:ATEC opened at $8.28 on Monday. The firm has a 50 day simple moving average of $9.12 and a 200-day simple moving average of $13.89. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. The firm has a market cap of $1.27 billion, a PE ratio of -10.10 and a beta of 0.88. Alphatec Holdings, Inc. has a 1-year low of $6.82 and a 1-year high of $23.29.

Institutional Investors Weigh In On Alphatec

Several institutional investors have recently bought and sold shares of the business. Creative Planning grew its stake in Alphatec by 0.9% during the third quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock worth $853,000 after buying an additional 534 shares during the period. Great Lakes Advisors LLC grew its stake in Alphatec by 0.4% during the fourth quarter. Great Lakes Advisors LLC now owns 278,717 shares of the medical technology company’s stock worth $5,864,000 after buying an additional 1,226 shares during the period. Franklin Resources Inc. grew its stake in Alphatec by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company’s stock worth $1,363,000 after buying an additional 1,299 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Alphatec by 9.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company’s stock worth $317,000 after buying an additional 1,353 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Alphatec by 157.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock worth $54,000 after buying an additional 1,571 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ATEC shares. Needham & Company LLC cut their price objective on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. TD Cowen cut their price objective on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Stifel Nicolaus cut their price objective on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Alphatec in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alphatec presently has an average rating of “Moderate Buy” and a consensus price target of $18.58.

About Alphatec

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.