Alphatec (NASDAQ:ATEC) Shares Down 6.5% Following Insider Selling

Alphatec Holdings, Inc. (NASDAQ:ATEC) fell 6.5% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $12.26 and last traded at $11.91. 437,565 shares traded hands during trading, a decline of 79% from the average session volume of 2,038,856 shares. The stock had previously closed at $12.73.

Specifically, EVP Craig E. Hunsaker sold 13,878 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $12.36, for a total value of $171,532.08. Following the sale, the executive vice president now directly owns 1,450,018 shares in the company, valued at approximately $17,922,222.48. The trade was a 0.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig E. Hunsaker sold 186,122 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total value of $2,296,745.48. Following the sale, the executive vice president now owns 1,463,896 shares in the company, valued at approximately $18,064,476.64. The trade was a 11.28% decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ATEC. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Wall Street Zen upgraded Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.89.

Alphatec Price Performance

The company has a 50 day moving average of $11.59 and a 200-day moving average of $10.79. The firm has a market capitalization of $1.78 billion, a P/E ratio of -9.54 and a beta of 1.10. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21.

Alphatec (NASDAQ:ATEC) last released its earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.23). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The company had revenue of $169.18 million for the quarter, compared to the consensus estimate of $167.57 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Hedge Funds Weigh In On Alphatec

A number of institutional investors and hedge funds have recently bought and sold shares of ATEC. Nuveen LLC bought a new stake in shares of Alphatec in the 1st quarter valued at about $135,874,000. Vanguard Group Inc. boosted its holdings in Alphatec by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock worth $60,990,000 after acquiring an additional 45,792 shares in the last quarter. American Century Companies Inc. boosted its holdings in Alphatec by 16.9% in the first quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company’s stock worth $59,117,000 after acquiring an additional 840,974 shares in the last quarter. Royal Bank of Canada boosted its holdings in Alphatec by 10.8% in the first quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock worth $35,773,000 after acquiring an additional 342,656 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Alphatec by 78.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock worth $23,730,000 after acquiring an additional 1,136,330 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

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.