Patrick Miles Sells 100,000 Shares of Alphatec (NASDAQ:ATEC) Stock

by · The Cerbat Gem

Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Free Report) CEO Patrick Miles sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 5,264,078 shares of the company’s stock, valued at $116,388,764.58. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Patrick Miles also recently made the following trade(s):

  • On Monday, November 3rd, Patrick Miles sold 100,000 shares of Alphatec stock. The shares were sold at an average price of $18.96, for a total value of $1,896,000.00.
  • On Wednesday, October 1st, Patrick Miles sold 100,000 shares of Alphatec stock. The stock was sold at an average price of $13.96, for a total transaction of $1,396,000.00.

Alphatec Trading Up 0.3%

ATEC traded up $0.06 during trading on Wednesday, hitting $21.23. 2,097,824 shares of the stock traded hands, compared to its average volume of 2,127,780. 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 firm has a 50-day moving average of $17.54 and a 200 day moving average of $14.70. The firm has a market capitalization of $3.15 billion, a P/E ratio of -20.41 and a beta of 1.08. Alphatec Holdings, Inc. has a 12-month low of $8.69 and a 12-month high of $22.66.

Alphatec (NASDAQ:ATEC – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.28) EPS. Equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Analyst Ratings Changes

ATEC has been the topic of a number of research reports. Wall Street Zen upgraded shares of Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Lake Street Capital set a $25.00 price objective on Alphatec and gave the stock a “buy” rating in a research note on Friday, October 31st. Needham & Company LLC raised their price objective on shares of Alphatec from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. initiated coverage on Alphatec in a research report on Friday, October 24th. They set an “overweight” rating and a $19.00 price target for the company. Finally, HC Wainwright lifted their price target on Alphatec from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Read Our Latest Analysis on ATEC

Institutional Trading of Alphatec

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning raised its position in shares of Alphatec by 0.9% in the 3rd 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. Valeo Financial Advisors LLC raised its stake in shares of Alphatec by 2.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 41,296 shares of the medical technology company’s stock valued at $600,000 after acquiring an additional 846 shares during the period. Norden Group LLC lifted its holdings in shares of Alphatec by 2.6% during the 3rd quarter. Norden Group LLC now owns 36,676 shares of the medical technology company’s stock valued at $533,000 after acquiring an additional 939 shares in the last quarter. Arizona State Retirement System raised its position in Alphatec by 2.8% in the third quarter. Arizona State Retirement System now owns 34,603 shares of the medical technology company’s stock valued at $503,000 after purchasing an additional 949 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Alphatec by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 11,845 shares of the medical technology company’s stock valued at $131,000 after purchasing an additional 955 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

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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