Alphatec (NASDAQ:ATEC) Shares Down 6.6% Following Insider Selling

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price dropped 6.6% on Monday following insider selling activity. The stock traded as low as $10.44 and last traded at $10.62. Approximately 327,314 shares changed hands during trading, a decline of 81% from the average daily volume of 1,717,581 shares. The stock had previously closed at $11.36.

Specifically, COO Scott Lish sold 27,453 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $11.49, for a total transaction of $315,434.97. Following the completion of the transaction, the chief operating officer now directly owns 867,677 shares of the company’s stock, valued at approximately $9,969,608.73. This represents a 3.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 43,459 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.95, for a total value of $519,335.05. Following the transaction, the chief executive officer now directly owns 6,065,772 shares in the company, valued at approximately $72,485,975.40. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In related news, EVP David Sponsel sold 36,256 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $11.42, for a total transaction of $414,043.52. Following the completion of the sale, the executive vice president now owns 735,074 shares of the company’s stock, valued at approximately $8,394,545.08. This represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several research analysts recently commented on ATEC shares. Needham & Company LLC boosted their price target on Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Tuesday, January 14th. Finally, Barclays upped their price target on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.56.

Alphatec Stock Down 4.5 %

The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The business’s 50-day moving average is $10.29 and its two-hundred day moving average is $8.10. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -8.48 and a beta of 1.43.

Institutional Trading of Alphatec

A number of institutional investors have recently modified their holdings of ATEC. R Squared Ltd acquired a new position in shares of Alphatec in the fourth quarter valued at about $29,000. Nisa Investment Advisors LLC boosted its holdings in Alphatec by 973.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after acquiring an additional 4,234 shares during the last quarter. Newton One Investments LLC purchased a new stake in Alphatec during the fourth quarter worth about $50,000. AlphaQuest LLC bought a new stake in Alphatec in the 4th quarter valued at about $80,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Alphatec during the 4th quarter worth approximately $106,000. 66.35% of the stock is currently owned by institutional investors.

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.