Alphatec Holdings, Inc.
ATEC · Surgical & Medical Instruments & Apparatus · 151.4M shares · +22%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$56M (gross $25M, SBC $81M)
Reference price $8.01 · est. market cap ~$1.2B — last insider sale, 2026-06-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Spine-device maker with high growth but operating losses and very high leverage.
Strengths
- Small positive FCF — FCF $3M
- Growth — per 10-K
Risks
- Operating losses, negative equity — ROE -1154%, interest coverage -1.8
- Very high leverage — D/E 40.4 (100th)
- Integration/commercial execution — per 10-K
Notable findings
- No interest coverageInterest coverage -1.79 (cannot cover interest)
- High leverageHigh leverage (debt/equity 40.35)
- Chronic dilutionShare count +22%/yr over 3y (dilution)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Insider buyingInsider buying — 3 open-market buy(s) by 1 insider(s) (~$996,192, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 10 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$12M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-1153.7%
Return on assets
-18.1%
ROIC
-12.6%
Revenue growth (QoQ)
4.4%
Debt / equity
40.4×
Interest coverage
-1.8×
Current ratio
2.1×
Free cash flow
$3M
EBITDA
-$5M
Tangible book value
-$156M
Cash & investments
$161M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-11 | MCGINNIS KAREN K | Sell | 6.0K | $8.01 |
| 2026-06-10 | Berkowitz Mortimer III | Grant | 32K | — |
| 2026-06-10 | Blackford Quentin S. | Grant | 32K | — |
| 2026-06-10 | Valentine Keith | Grant | 32K | — |
| 2026-06-10 | MCGINNIS KAREN K | Grant | 32K | — |
| 2026-06-10 | Demski David M | Grant | 32K | — |
| 2026-06-10 | Pelizzon David R | Grant | 32K | — |
| 2026-05-11 | Valentine Keith | Buy | 35K | $7.00 |
| 2026-05-08 | Valentine Keith | Buy | 44K | $7.54 |
| 2026-05-07 | Valentine Keith | Buy | 56K | $7.49 |
| 2026-04-07 | Marshall Tyson Eliot | Option exercise | 12K | $3.34 |
| 2026-04-07 | Marshall Tyson Eliot | Option exercise | 15K | $1.98 |
| 2026-04-07 | Marshall Tyson Eliot | Option exercise | 15K | $1.68 |
| 2026-04-07 | Marshall Tyson Eliot | Option exercise | 60K | $2.69 |
| 2026-04-07 | Marshall Tyson Eliot | Tax withheld | 23K | $11.03 |
| 2026-03-13 | Lish Scott | Sell | 261K | $12.30 |
| 2026-03-13 | Koning John Todd | Sell | 80K | $12.36 |
| 2026-03-11 | Sponsel David | Sell | 163K | $12.52 |
| 2026-03-09 | Hunsaker Craig E | Sell | 83K | $12.45 |
| 2026-03-09 | Hunsaker Craig E | Gift | 600 | — |
| 2026-03-06 | Hunsaker Craig E | Sell | 34K | $12.22 |
| 2026-03-05 | Miles Patrick | Tax withheld | 220K | $12.57 |
| 2026-03-05 | Koning John Todd | Tax withheld | 69K | $12.57 |
| 2026-03-05 | Marshall Tyson Eliot | Sell | 89K | $12.49 |
| 2026-02-25 | Sponsel David | Grant | 93K | — |
| 2026-02-25 | Lish Scott | Grant | 311K | — |
| 2026-02-25 | Lish Scott | Grant | 127K | — |
| 2026-02-25 | Lish Scott | Grant | 21K | — |
| 2026-02-25 | Koning John Todd | Grant | 205K | — |
| 2026-02-25 | Koning John Todd | Grant | 110K | — |
| 2026-02-25 | Koning John Todd | Grant | 20K | — |
| 2026-02-25 | Sponsel David | Grant | 205K | — |
| 2026-02-25 | Sponsel David | Grant | 20K | — |
| 2026-02-25 | Marshall Tyson Eliot | Grant | 205K | — |
| 2026-02-25 | Marshall Tyson Eliot | Grant | 85K | — |
| 2026-02-25 | Marshall Tyson Eliot | Grant | 13K | — |
| 2026-02-25 | Hunsaker Craig E | Grant | 311K | — |
| 2026-02-25 | Hunsaker Craig E | Grant | 127K | — |
| 2026-02-25 | Hunsaker Craig E | Grant | 21K | — |
| 2026-02-25 | Miles Patrick | Grant | 612K | — |
| 2026-02-25 | Miles Patrick | Grant | 306K | — |
| 2026-02-25 | Miles Patrick | Grant | 49K | — |
| 2026-02-12 | Hunsaker Craig E | Option exercise | 21K | $3.09 |
| 2026-02-12 | Hunsaker Craig E | Option exercise | 32K | $1.93 |
| 2026-02-12 | Hunsaker Craig E | Tax withheld | 41K | $13.10 |
| 2026-02-12 | Hunsaker Craig E | Option exercise | 78K | $2.69 |
| 2026-02-12 | Hunsaker Craig E | Option exercise | 120K | $1.68 |
| 2026-02-05 | Sponsel David | Sell | 60K | $13.79 |
| 2026-02-03 | Hunsaker Craig E | Sell | 37K | $14.71 |
| 2026-01-05 | Miles Patrick | Sell | 100K | $21.01 |
| 2025-12-16 | Lish Scott | Sell | 20K | $19.64 |
| 2025-12-16 | Pelizzon David R | Sell | 250K | $19.66 |
| 2025-12-11 | Demski David M | Sell | 30K | $21.20 |
| 2025-12-10 | Hunsaker Craig E | Sell | 33K | $20.84 |
| 2025-12-10 | Sponsel David | Sell | 21K | $20.79 |
| 2025-12-09 | Squadron Capital LLC | Sell | 29K | $21.03 |
| 2025-12-09 | Pritzker Jennifer N. | Sell | 29K | $21.03 |
| 2025-12-09 | Squadron Capital Holdings LLC | Sell | 29K | $21.03 |
| 2025-12-09 | Pelizzon David R | Sell | 29K | $21.03 |
| 2025-12-08 | Squadron Capital LLC | Sell | 221K | $21.20 |
| 2025-12-08 | Koning John Todd | Tax withheld | 15K | $21.45 |
| 2025-12-08 | Sponsel David | Sell | 988 | $21.45 |
| 2025-12-08 | Pelizzon David R | Sell | 221K | $21.20 |
| 2025-12-08 | Miles Patrick | Tax withheld | 29K | $21.45 |
| 2025-12-08 | Squadron Capital Holdings LLC | Sell | 221K | $21.20 |
| 2025-12-08 | Pritzker Jennifer N. | Sell | 221K | $21.20 |
| 2025-12-05 | Lish Scott | Sell | 11K | $21.47 |
| 2025-12-05 | Marshall Tyson Eliot | Sell | 9.9K | $21.48 |
| 2025-12-05 | Marshall Tyson Eliot | Sell | 13K | $21.47 |
| 2025-12-01 | Miles Patrick | Sell | 100K | $22.11 |
| 2025-11-24 | Pritzker Jennifer N. | Sell | 250K | $20.62 |
| 2025-11-24 | Squadron Capital Holdings LLC | Sell | 250K | $20.62 |
| 2025-11-24 | Squadron Capital LLC | Sell | 250K | $20.62 |
| 2025-11-24 | Pelizzon David R | Sell | 250K | $20.62 |
| 2025-11-20 | Lish Scott | Option exercise | 25K | $3.63 |
| 2025-11-20 | Lish Scott | Sell | 25K | $19.80 |
| 2025-11-20 | Marshall Tyson Eliot | Sell | 70K | $19.51 |
| 2025-11-12 | Squadron Capital LLC | Sell | 250K | $20.80 |
| 2025-11-12 | Pelizzon David R | Sell | 250K | $20.80 |
| 2025-11-12 | Squadron Capital Holdings LLC | Sell | 250K | $20.80 |
| 2025-11-12 | Pritzker Jennifer N. | Sell | 250K | $20.80 |
| 2025-11-03 | Rydin Jeffrey P | Sell | 200K | $19.32 |
| 2025-11-03 | Miles Patrick | Sell | 100K | $18.96 |
| 2025-10-31 | Hunsaker Craig E | Sell | 100K | $19.95 |
| 2025-10-24 | Sponsel David | Sell | 70K | $16.18 |
| 2025-10-14 | Lish Scott | Option exercise | 14K | $3.35 |
| 2025-10-01 | Miles Patrick | Sell | 100K | $13.96 |
| 2025-09-19 | Sponsel David | Sell | 2.6K | $15.34 |
| 2025-09-18 | Sponsel David | Sell | 137K | $15.09 |
| 2025-09-09 | Berkowitz Mortimer III | Sell | 62K | $15.97 |
| 2025-09-02 | Miles Patrick | Sell | 300K | $15.73 |
| 2025-08-21 | Lish Scott | Sell | 6.3K | $16.01 |
| 2025-08-14 | Miles Patrick | Gift | 10K | — |
| 2025-08-13 | Lish Scott | Sell | 9.3K | $16.00 |
| 2025-08-06 | Sponsel David | Tax withheld | 982 | $15.34 |
| 2025-08-06 | Koning John Todd | Tax withheld | 5.3K | $15.34 |
| 2025-08-06 | Hunsaker Craig E | Sell | 11K | $15.33 |
| 2025-08-05 | Marshall Tyson Eliot | Sell | 8.2K | $14.96 |
| 2025-08-05 | Hunsaker Craig E | Sell | 50K | $15.00 |
| 2025-08-05 | Lish Scott | Sell | 17K | $15.00 |
| 2025-08-05 | Marshall Tyson Eliot | Sell | 9.9K | $14.86 |
| 2025-08-04 | Lish Scott | Sell | 18K | $14.00 |
| 2025-08-01 | Marshall Tyson Eliot | Sell | 13K | $12.00 |
| 2025-08-01 | Lish Scott | Sell | 36K | $12.53 |
| 2025-07-10 | Lish Scott | Sell | 4.0K | $12.00 |
| 2025-07-10 | Marshall Tyson Eliot | Sell | 1.5K | $12.00 |
| 2025-06-13 | Lish Scott | Sell | 23K | $11.07 |
| 2025-06-11 | Demski David M | Grant | 15K | — |
| 2025-06-11 | Blackford Quentin S. | Grant | 15K | — |
| 2025-06-11 | Berkowitz Mortimer III | Grant | 15K | — |
| 2025-06-11 | Rydin Jeffrey P | Grant | 15K | — |
| 2025-06-11 | MCGINNIS KAREN K | Grant | 15K | — |
| 2025-06-11 | MCGINNIS KAREN K | Sell | 4.0K | $12.11 |
| 2025-06-11 | WOODS WARD W JR | Grant | 15K | — |
| 2025-06-11 | Valentine Keith | Grant | 15K | — |
| 2025-06-11 | Pelizzon David R | Grant | 15K | — |
| 2025-06-05 | Hunsaker Craig E | Sell | 14K | $12.36 |
| 2025-06-04 | Hunsaker Craig E | Sell | 186K | $12.34 |
| 2025-05-19 | Lish Scott | Sell | 55K | $13.00 |
| 2025-05-05 | Lish Scott | Sell | 12K | $12.12 |
| 2025-05-05 | Blackford Quentin S. | Gift | 21K | — |
| 2025-04-22 | Koning John Todd | Sell | 38K | $10.71 |
| 2025-04-01 | Lish Scott | Grant | 22K | — |
| 2025-04-01 | Sponsel David | Grant | 3.9K | — |
| 2025-04-01 | Miles Patrick | Grant | 16K | — |
| 2025-04-01 | Marshall Tyson Eliot | Grant | 20K | — |
| 2025-04-01 | Koning John Todd | Grant | 21K | — |
| 2025-04-01 | Hunsaker Craig E | Grant | 22K | — |
| 2025-03-10 | Koning John Todd | Sell | 165K | $9.72 |
| 2025-03-10 | Lish Scott | Sell | 28K | $9.72 |
| 2025-03-07 | Miles Patrick | Sell | 13K | $10.64 |
| 2025-03-06 | Marshall Tyson Eliot | Tax withheld | 28K | $11.44 |
| 2025-03-06 | Sponsel David | Sell | 34K | $10.83 |
| 2025-03-06 | Miles Patrick | Tax withheld | 70K | $11.44 |
| 2025-03-03 | MCGINNIS KAREN K | Sell | 38K | $12.26 |
| 2025-02-27 | Lish Scott | Sell | 23K | $12.03 |
| 2025-02-26 | Miles Patrick | Sell | 32K | $10.89 |
| 2025-02-25 | Sponsel David | Sell | 19K | $10.41 |
| 2025-02-24 | Sponsel David | Sell | 13K | $10.73 |
| 2025-02-24 | Miles Patrick | Tax withheld | 93K | $10.76 |
| 2025-02-06 | Lish Scott | Sell | 27K | $11.49 |
| 2025-02-05 | Miles Patrick | Sell | 43K | $11.95 |
| 2025-02-03 | Sponsel David | Sell | 36K | $11.42 |
| 2025-01-30 | Miles Patrick | Sell | 43K | $12.03 |
| 2025-01-29 | Miles Patrick | Grant | 341K | — |
| 2025-01-29 | Miles Patrick | Grant | 48K | — |
| 2025-01-29 | Miles Patrick | Sell | 50K | $12.03 |
| 2025-01-29 | Miles Patrick | Grant | 312K | — |
| 2025-01-29 | Hunsaker Craig E | Grant | 157K | — |
| 2025-01-29 | Hunsaker Craig E | Grant | 173K | — |
| 2025-01-29 | Hunsaker Craig E | Grant | 22K | — |
| 2025-01-29 | Lish Scott | Grant | 121K | — |
| 2025-01-29 | Lish Scott | Grant | 173K | — |
| 2025-01-29 | Lish Scott | Grant | 20K | — |
| 2025-01-29 | Koning John Todd | Grant | 121K | — |
| 2025-01-29 | Koning John Todd | Grant | 114K | — |
| 2025-01-29 | Koning John Todd | Grant | 20K | — |
| 2025-01-29 | Marshall Tyson Eliot | Grant | 106K | — |
| 2025-01-29 | Marshall Tyson Eliot | Grant | 114K | — |
| 2025-01-29 | Marshall Tyson Eliot | Grant | 13K | — |
| 2025-01-29 | Sponsel David | Grant | 134K | — |
| 2025-01-29 | Sponsel David | Grant | 114K | — |
| 2025-01-29 | Sponsel David | Grant | 21K | — |
| 2025-01-21 | Miles Patrick | Sell | 6.7K | $12.00 |
| 2025-01-13 | Sponsel David | Sell | 58K | $10.71 |
| 2025-01-10 | Sponsel David | Sell | 238 | $10.00 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-11 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-05 | Material agreement1.02ResultsDebt obligationExhibits | filing ↗ |
| 2026-03-03 | Exec/director changeOtherExhibits | filing ↗ |
| 2026-02-24 | ResultsExhibits | filing ↗ |
| 2026-01-12 | ResultsExhibits | filing ↗ |
| 2025-11-07 | OtherExhibits | filing ↗ |
| 2025-10-30 | ResultsExhibits | filing ↗ |
| 2025-07-31 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-10 | 0001193125-26-267552 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001193125-26-206683 ↗ |
| 8-K | 2026-05-05 | 2026-05-01 | 0001193125-26-206530 ↗ |
| 8-K | 2026-03-03 | 2026-02-25 | 0001193125-26-088220 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001193125-26-067393 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001193125-26-067062 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001193125-26-009910 ↗ |
| 8-K | 2025-11-07 | 2025-11-03 | 0001193125-25-271197 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001193125-25-258609 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0001193125-25-258790 ↗ |
| 8-K | 2025-07-31 | 2025-07-31 | 0000950170-25-100924 ↗ |
| 10-Q | 2025-07-31 | 2025-06-30 | 0000950170-25-100963 ↗ |