Karen Mcginnis Sells 6,050 Shares of Alphatec (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) Director Karen Mcginnis sold 6,050 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alphatec Stock Up 1.8%

Shares of NASDAQ ATEC opened at $8.28 on Friday. Alphatec Holdings, Inc. has a one year low of $6.82 and a one year high of $23.29. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. The business’s fifty day moving average price is $9.12 and its 200-day moving average price is $13.94. The stock has a market capitalization of $1.27 billion, a PE ratio of -10.10 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays dropped their price objective on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating and set a $14.00 price objective (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Wells Fargo & Company dropped their price objective on Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. TD Cowen dropped their price objective on Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Stifel Nicolaus dropped their price objective on Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.58.

Hedge Funds Weigh In On Alphatec

A number of institutional investors have recently added to or reduced their stakes in ATEC. Millennium Management LLC increased its stake in Alphatec by 292.2% in the 4th quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company’s stock worth $46,834,000 after acquiring an additional 1,658,349 shares during the last quarter. Iron Triangle Partners LP bought a new position in Alphatec in the 4th quarter worth about $27,051,000. Morgan Stanley increased its stake in Alphatec by 22.0% in the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after acquiring an additional 784,191 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Alphatec by 608.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock worth $13,093,000 after acquiring an additional 773,367 shares during the last quarter. Finally, M&G PLC bought a new position in Alphatec in the 4th quarter worth about $14,055,000. 66.35% of the stock is currently owned by institutional investors.

Alphatec Company Profile

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.