Key Points
- CEO Patrick Miles sold 100,000 shares on December 1 at an average price of $22.11 for $2.211M, reducing his stake to 5,264,078 shares (a 1.86% decrease) per the SEC filing.
- This was his third recent sale — he sold 100,000 shares on October 1 and 100,000 on November 3 — totaling 300,000 shares for roughly $5.5M over the past two months.
- Alphatec trades near its 52‑week high with a market cap of about $3.15B; the company recently beat revenue and EPS estimates, and analysts have an average target of $22.20 with a majority of buy ratings.
Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) CEO Patrick Miles sold 100,000 shares of the business's stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $22.11, for a total transaction of $2,211,000.00. Following the sale, the chief executive officer directly owned 5,264,078 shares in the company, valued at approximately $116,388,764.58. This represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Patrick Miles also recently made the following trade(s):
- On Monday, November 3rd, Patrick Miles sold 100,000 shares of Alphatec stock. The stock was sold at an average price of $18.96, for a total transaction of $1,896,000.00.
- On Wednesday, October 1st, Patrick Miles sold 100,000 shares of Alphatec stock. The shares were sold at an average price of $13.96, for a total transaction of $1,396,000.00.
Alphatec Price Performance
NASDAQ ATEC opened at $21.23 on Thursday. The company has a market cap of $3.15 billion, a price-to-earnings ratio of -20.41 and a beta of 1.08. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. The stock's fifty day moving average price is $17.54 and its 200 day moving average price is $14.70. Alphatec Holdings, Inc. has a 1 year low of $8.69 and a 1 year high of $22.66.
Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to analysts' expectations of $182.78 million. The firm's revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.28) EPS. As a group, equities research analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.
Hedge Funds Weigh In On Alphatec
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. LPL Financial LLC increased its stake in shares of Alphatec by 1.2% during the first quarter. LPL Financial LLC now owns 418,061 shares of the medical technology company's stock worth $4,211,000 after purchasing an additional 4,826 shares in the last quarter. Vanguard Group Inc. increased its stake in Alphatec by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company's stock worth $60,990,000 after buying an additional 45,792 shares in the last quarter. Deutsche Bank AG increased its stake in Alphatec by 11.8% during the 1st quarter. Deutsche Bank AG now owns 1,185,235 shares of the medical technology company's stock worth $12,018,000 after buying an additional 124,785 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Alphatec by 4.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 40,734 shares of the medical technology company's stock valued at $413,000 after acquiring an additional 1,792 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Alphatec in the first quarter valued at approximately $2,240,000. 66.35% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Needham & Company LLC increased their price target on shares of Alphatec from $16.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alphatec in a report on Monday. Canaccord Genuity Group raised their target price on shares of Alphatec from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, October 31st. Wall Street Zen upgraded shares of Alphatec from a "hold" rating to a "buy" rating in a research report on Saturday, October 18th. Finally, Wells Fargo & Company increased their price target on Alphatec from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Thursday, October 16th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alphatec has an average rating of "Moderate Buy" and an average target price of $22.20.
Check Out Our Latest Analysis on Alphatec
About Alphatec
(
Get Free Report)
Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.
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