Key Points
- Alphatec General Counsel Tyson Eliot Marshall sold 8,168 shares at an average price of $9.65, generating $78,821.20. The sale, conducted under a pre-arranged Rule 10b5-1 plan, covered tax-withholding obligations tied to vested equity awards; Marshall retained 630,398 shares.
- Alphatec reported quarterly revenue of $213.51 million, up 15.1% year over year and above analyst estimates, while adjusted earnings of $0.07 per share matched consensus. Shares opened at $9.31, with the stock trading below its 200-day moving average.
- Analysts maintain a consensus “Moderate Buy” rating with a $17.40 price target, despite several firms recently lowering their targets. Institutional investors own approximately 66.35% of Alphatec’s outstanding shares.
Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) General Counsel Tyson Eliot Marshall sold 8,168 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the sale, the general counsel directly owned 630,398 shares in the company, valued at $6,083,340.70. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Trading Up 1.1%
Shares of NASDAQ ATEC opened at $9.31 on Friday. The firm has a 50 day moving average price of $8.79 and a two-hundred day moving average price of $10.70. The stock has a market cap of $1.44 billion, a P/E ratio of -13.11 and a beta of 0.85. Alphatec Holdings, Inc. has a 52-week low of $6.82 and a 52-week high of $23.29. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.89.
Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, hitting analysts' consensus estimates of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The company had revenue of $213.51 million for the quarter, compared to analyst estimates of $211.26 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. Alphatec's revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts forecast that Alphatec Holdings, Inc. will post -0.44 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Barclays cut their target price on Alphatec from $27.00 to $24.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Stephens started coverage on Alphatec in a research note on Thursday, July 23rd. They issued an "overweight" rating and a $15.00 price target for the company. Lake Street Capital restated a "buy" rating and set a $15.00 price objective on shares of Alphatec in a research report on Wednesday, May 6th. Stifel Nicolaus cut their price objective on Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Finally, Canaccord Genuity Group cut their price objective on Alphatec from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Thirteen equities 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.
Check Out Our Latest Stock Analysis on Alphatec
Hedge Funds Weigh In On Alphatec
A number of hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its stake in Alphatec by 292.2% during the fourth 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 period. Iron Triangle Partners LP acquired a new position in Alphatec in the fourth quarter valued at approximately $27,051,000. Morgan Stanley lifted its stake in Alphatec by 22.0% in the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company's stock valued at $91,333,000 after buying an additional 784,191 shares during the period. M&G PLC bought a new position in shares of Alphatec during the 4th quarter worth approximately $14,055,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Alphatec by 59.0% during the 3rd quarter. Two Sigma Investments LP now owns 1,794,324 shares of the medical technology company's stock worth $26,089,000 after buying an additional 665,634 shares in the last quarter. Institutional investors own 66.35% of the company's stock.
Alphatec Company Profile
(
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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