CEO of Alphatec Holdings, Miles Patrick, sold 100,000 shares for $2.1 million, reducing direct ownership to 5.14 million shares. The sale matched recent transaction sizes, indicating a typical disposition. Patrick’s direct holdings decreased by 6.82%, while indirect holdings remained unchanged. The transaction reflected strong price momentum.

Alphatec Holdings, a medical device company, focuses on spinal surgery devices and generates revenue through sales to hospitals and surgical centers. It serves spine surgeons, targeting both degenerative and complex pathologies. The company aims to improve patient outcomes and surgical efficiency in the spine market.

Alphatec reported strong operational momentum with revenue of $197 million in the most recent quarter, up 30% year over year. The company’s adjusted EBITDA reached $26 million, expanding margins by more than 800 basis points. Management raised full-year guidance, underscoring confidence in demand for its spine portfolio.

“Double Down” stock recommendations are available for select companies through Stock Advisor. Nvidia, Apple, and Netflix have seen significant returns for investors who doubled down on these stocks in the past. Join Stock Advisor to access alerts for potential investment opportunities.

The sale of Alphatec Holdings shares by CEO Miles Patrick was executed under a prearranged Rule 10b5-1 plan and did not signal a change in conviction. The transaction, which represented a modest trim, aligns with the company’s growth strategy. Patrick retains significant ownership, maintaining alignment with shareholders.

Read more at Yahoo Finance: Alphatec Stock Up 126% as CEO Sells $2 Million in Shares — Here’s What Investors Should Know