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

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares were down 6.5% during trading on Monday following insider selling activity. The company traded as low as $12.26 and last traded at $11.91. Approximately 437,565 shares changed hands during trading, a decline of 79% from the average daily 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 stock was sold at an average price of $12.36, for a total transaction of $171,532.08. Following the transaction, the executive vice president now owns 1,450,018 shares in the company, valued at $17,922,222.48. The trade was a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig E. Hunsaker sold 186,122 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the completion of the sale, the executive vice president now owns 1,463,896 shares of the company’s stock, valued at $18,064,476.64. This trade represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

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

Alphatec Stock Down 6.1%

The firm has a fifty day moving average of $11.52 and a 200 day moving average of $10.77. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The stock has a market cap of $1.75 billion, a PE ratio of -9.28 and a beta of 1.10.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data 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 return on equity of 541.39% and a negative net margin of 31.06%. The business had revenue of $169.18 million for the quarter, compared to analyst estimates of $167.57 million. During the same period in the prior year, the company earned ($0.34) EPS. The company’s revenue was up 22.2% on a year-over-year basis. On average, equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Institutional Trading of Alphatec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. Nuveen LLC bought a new stake in shares of Alphatec during the first quarter valued at about $135,874,000. Vanguard Group Inc. boosted its holdings in Alphatec by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock valued at $60,990,000 after purchasing an additional 45,792 shares during the period. American Century Companies Inc. raised its stake in shares of 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 valued at $59,117,000 after purchasing an additional 840,974 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Alphatec by 10.8% in the 1st quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock worth $35,773,000 after buying an additional 342,656 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Alphatec by 78.4% during 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 buying an additional 1,136,330 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

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.