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Alphatec Holdings , Inc. (NASDAQ:ATEC), a medical device company with a market capitalization of $1.6 billion, saw its CEO Miles Patrick recently execute a sale of 43,459 shares of common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $11.95, amounting to a total transaction value of $519,335. According to InvestingPro data, ATEC has demonstrated strong momentum with a 79% price return over the past six months. This sale was conducted under a Rule 10b5-1 trading plan, which Patrick adopted in June 2024 to address tax withholding obligations from the vesting of restricted stock units.
Following this transaction, Patrick retains direct ownership of 6,065,772 shares. Additionally, he holds 10,900 shares indirectly through an IRA and 250,000 shares through MOM, LLC.
In other recent news, Alphatec Holdings announced strong preliminary financial results for the fourth quarter and full year of 2024, with total revenue for the year increasing by approximately 27%. The company attributed this growth to a 29% rise in surgical revenue, driven by increased surgical volume and average revenue per procedure. Alphatec’s cash balance as of December 31, 2024, was approximately $139 million, reflecting a significant increase from the previous quarter.
Looking ahead, Alphatec anticipates full-year 2025 revenue to reach $732 million, which would represent a 20% growth compared to 2024. This projection includes surgical revenue of approximately $657 million and EOS revenue around $75 million. The company also expects to achieve positive free cash flow with an adjusted EBITDA of $75 million for the year.
Needham analyst David Saxon responded positively to the preannouncement, raising the price target on Alphatec to $16.00 from $13.00 while maintaining a Buy rating. Saxon highlighted the company’s robust surgical growth and progress toward profitability as key factors in this decision. Meanwhile, Piper Sandler analysts expressed optimism for Alphatec ahead of a major investor conference, focusing on the company’s improved profitability.
In other company news, Dave Demski, who holds a board membership at Alphatec Spine since October 2023, has been appointed as an independent director at Paragon 28, Inc. These developments reflect Alphatec’s continued growth and positive financial outlook.
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