Miles Patrick, the CEO of Alphatec Holdings , Inc. (NASDAQ:ATEC), a medical technology company with a market capitalization of $1.65 billion and impressive revenue growth of 27% over the last twelve months, recently sold 6,687 shares of the company's common stock. The shares were sold at a weighted average price of $12.00 per share, resulting in a total transaction value of $80,244. Following this sale, Patrick retains direct ownership of 5,501,715 shares. According to InvestingPro, ATEC maintains a GOOD financial health score, with liquid assets exceeding short-term obligations.
The transaction was conducted under a Rule 10b5-1 trading plan, which Patrick adopted on June 13, 2024, to address tax withholding obligations arising from the vesting of restricted stock units. The shares were sold in multiple transactions at prices ranging from $12.00 to $12.02.
Beyond his direct holdings, Patrick also holds 10,900 shares through an IRA and 250,000 shares through MOM, LLC. Track insider transactions and access comprehensive financial analysis with InvestingPro's detailed research reports, available for over 1,400 US stocks.
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 expects total revenue to be between $610.3 million and $611.8 million. Alphatec's cash balance as of December 31, 2024, was approximately $139 million, marking a significant increase from the previous quarter. This financial strength is partly due to an infusion of $50 million from a term loan expansion.
Needham analysts have maintained a Buy rating on Alphatec's stock following the company's announcement of these results. The analysts highlighted the company's robust performance in the fourth quarter of 2024, with significant growth across its product lines. They also factored in Alphatec's expectation of positive free cash flow in 2025 into their updated model.
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. These are recent developments providing investors with an overview of Alphatec's financial health and strategic movements.
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