Insider Buying: Alphatec (NASDAQ:ATEC) CEO Buys 115,000 Shares

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles acquired 115,000 shares of the stock in a transaction on Thursday, September 10th. The stock was bought at an average price of $8.81 per share, with a total value of $1,013,150.00. Following the completion of the acquisition, the chief executive officer directly owned 5,893,551 shares of the company’s stock, valued at $51,922,184.31. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Alphatec Stock Down 1.6%

Alphatec stock traded down $0.14 during trading hours on Thursday, hitting $8.84. 2,381,423 shares of the stock traded hands, compared to its average volume of 1,495,421. Alphatec Holdings, Inc. has a one year low of $6.82 and a one year high of $23.29. The firm’s 50-day moving average price is $9.27 and its two-hundred day moving average price is $9.80. The company has a current ratio of 1.89, a quick ratio of 1.07 and a debt-to-equity ratio of 40.35. The company has a market cap of $1.37 billion, a PE ratio of -12.45 and a beta of 0.85.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The firm had revenue of $213.51 million during the quarter, compared to analyst estimates of $211.26 million. During the same quarter in the prior year, the company earned $0.02 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. On average, research analysts forecast that Alphatec Holdings, Inc. will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ATEC. Wall Street Zen cut shares of Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Alphatec in a report on Monday, August 3rd. Stifel Nicolaus decreased their target price on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. TD Cowen lifted their target price on shares of Alphatec from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Stephens initiated coverage on Alphatec in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price target on the stock. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.40.

Institutional Trading of Alphatec

A number of institutional investors and hedge funds have recently bought and sold shares of ATEC. Bank of America Corp DE boosted its holdings in Alphatec by 26.9% in the first quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock worth $27,863,000 after purchasing an additional 543,059 shares during the last quarter. Emerald Advisers LLC lifted its holdings in shares of Alphatec by 10.4% during the 1st quarter. Emerald Advisers LLC now owns 1,807,307 shares of the medical technology company’s stock valued at $19,664,000 after buying an additional 169,578 shares during the period. Jefferies Financial Group Inc. boosted its stake in shares of Alphatec by 983.5% in the 4th quarter. Jefferies Financial Group Inc. now owns 595,937 shares of the medical technology company’s stock worth $12,539,000 after buying an additional 540,937 shares during the last quarter. Lisanti Capital Growth LLC grew its holdings in shares of Alphatec by 63.8% in the fourth quarter. Lisanti Capital Growth LLC now owns 372,407 shares of the medical technology company’s stock worth $7,835,000 after acquiring an additional 145,120 shares during the period. Finally, Paradigm Capital Management Inc. NY bought a new stake in shares of Alphatec in the second quarter worth $9,413,000. 66.35% of the stock is currently owned by institutional investors.

About Alphatec

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.