Patrick Miles Buys 115,000 Shares of Alphatec (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATECGet Free Report) CEO Patrick Miles bought 115,000 shares of Alphatec stock in a transaction on Thursday, September 10th. The shares were bought at an average price of $8.81 per share, for a total transaction of $1,013,150.00. Following the acquisition, the chief executive officer owned 5,893,551 shares of the company’s stock, valued at approximately $51,922,184.31. The trade was a 1.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Alphatec Price Performance

Alphatec stock opened at $10.58 on Friday. 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 firm has a market capitalization of $1.63 billion, a P/E ratio of -14.90 and a beta of 0.85. The business has a 50-day moving average of $9.30 and a 200-day moving average of $9.81. Alphatec Holdings, Inc. has a 1 year low of $6.82 and a 1 year high of $23.29.

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. BMO Capital Markets upped their price objective on shares of Alphatec from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Stifel Nicolaus lowered their price target on Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. UBS Group raised their price target on Alphatec from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research report on Monday, August 3rd. Finally, TD Cowen increased their target price on Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Thirteen 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, Alphatec has a consensus rating of “Moderate Buy” and a consensus target price of $17.40.

Read Our Latest Report on Alphatec

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in Alphatec by 22.0% in the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after buying an additional 784,191 shares in the last quarter. State Street Corp grew its stake in shares of Alphatec by 6.4% in the fourth quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock valued at $60,790,000 after acquiring an additional 174,287 shares in the last quarter. Geode Capital Management LLC increased its position in Alphatec by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock worth $59,511,000 after acquiring an additional 32,465 shares during the period. Bank of America Corp DE raised its stake in Alphatec by 26.9% in the 1st 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 in the last quarter. Finally, Next Century Growth Investors LLC raised its stake in Alphatec by 6.1% in the 4th quarter. Next Century Growth Investors LLC now owns 2,418,298 shares of the medical technology company’s stock worth $50,881,000 after purchasing an additional 138,915 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Company Profile

(Get Free Report)

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.

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