Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) General Counsel Tyson Eliot Marshall sold 88,835 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the transaction, the general counsel directly owned 559,459 shares of the company's stock, valued at approximately $6,987,642.91. This represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Alphatec Trading Up 5.2%
Shares of ATEC stock opened at $12.87 on Tuesday. The firm's 50-day simple moving average is $15.78 and its 200-day simple moving average is $16.99. The company has a debt-to-equity ratio of 40.35, a current ratio of 2.06 and a quick ratio of 1.28. Alphatec Holdings, Inc. has a 1-year low of $8.81 and a 1-year high of $23.29. The firm has a market cap of $1.95 billion, a P/E ratio of -13.55 and a beta of 1.02.
Alphatec (NASDAQ:ATEC - Get Free Report) last released its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $212.93 million during the quarter, compared to analyst estimates of $212.67 million. During the same period in the prior year, the business posted ($0.23) earnings per share. Alphatec's revenue was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on ATEC shares. Wall Street Zen raised shares of Alphatec from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. HC Wainwright reaffirmed a "buy" rating and issued a $24.00 target price on shares of Alphatec in a research report on Monday, January 12th. Lake Street Capital reiterated a "buy" rating on shares of Alphatec in a report on Wednesday, February 25th. TD Cowen reissued a "buy" rating on shares of Alphatec in a research report on Tuesday, January 27th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Alphatec in a research note on Monday, December 29th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.82.
Read Our Latest Analysis on ATEC
Institutional Trading of Alphatec
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in Alphatec by 292.2% during the 4th quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company's stock worth $46,834,000 after purchasing an additional 1,658,349 shares during the last quarter. Granite Investment Partners LLC boosted its stake in shares of Alphatec by 320.6% during the 2nd quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company's stock valued at $19,102,000 after buying an additional 1,311,748 shares during the last quarter. Iron Triangle Partners LP purchased a new position in shares of Alphatec during the 4th quarter valued at approximately $27,051,000. Morgan Stanley grew its position in shares of Alphatec by 22.0% during the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company's stock worth $91,333,000 after buying an additional 784,191 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its position in shares of Alphatec by 608.4% during the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company's stock worth $13,093,000 after buying an additional 773,367 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.
About Alphatec
(
Get Free Report)
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.
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