Key Points
- Alphatec director Karen Mcginnis sold 6,050 shares on June 11 at an average price of $8.01, totaling $48,460.50. The sale reduced her ownership by about 6.01% and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards.
- ATEC shares were up 1.8% and opened at $8.28, though the stock remains well below its key moving averages and 52-week high. Alphatec’s market cap is about $1.27 billion, with a 52-week range of $6.82 to $23.29.
- Wall Street remains broadly positive on Alphatec, with 10 Buy ratings, one Hold, and one Sell. The consensus price target is $18.58, even after several firms recently lowered their targets.
Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) Director Karen Mcginnis sold 6,050 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the sale, the director owned 94,671 shares in the company, valued at approximately $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 Up 1.8%
ATEC opened at $8.28 on Friday. The business's fifty day moving average is $9.12 and its two-hundred day moving average is $13.94. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -10.10 and a beta of 0.88. Alphatec Holdings, Inc. has a one year low of $6.82 and a one year high of $23.29.
Hedge Funds Weigh In On Alphatec
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Alphatec by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company's stock worth $144,831,000 after acquiring an additional 68,568 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Alphatec by 2.6% in the third quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company's stock worth $92,133,000 after acquiring an additional 159,330 shares during the last quarter. Morgan Stanley raised its holdings in shares of Alphatec by 22.0% in the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company's stock worth $91,333,000 after acquiring an additional 784,191 shares during the last quarter. State Street Corp raised its holdings in shares of Alphatec by 6.4% in the fourth quarter. State Street Corp now owns 2,889,240 shares of the medical technology company's stock worth $60,790,000 after acquiring an additional 174,287 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Alphatec by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company's stock valued at $59,511,000 after purchasing an additional 32,465 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have commented on ATEC. Piper Sandler reiterated an "overweight" rating and set a $14.00 target price (down from $25.00) on shares of Alphatec in a research report on Wednesday, May 6th. Lake Street Capital reiterated a "buy" rating and set a $15.00 target price on shares of Alphatec in a research report on Wednesday, May 6th. HC Wainwright reiterated a "buy" rating and set a $24.00 target price on shares of Alphatec in a research report on Thursday, May 7th. Needham & Company LLC cut their price target on Alphatec from $25.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Finally, Weiss Ratings raised Alphatec from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 6th. Ten research 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's stock. According to MarketBeat, Alphatec currently has an average rating of "Moderate Buy" and a consensus target price of $18.58.
Check Out Our Latest Stock Report on ATEC
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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