Is Alphatec Stock a Buy or Sell After Its COO Dumped Nearly 20,000 Shares?

Scott Lish, Chief Operating Officer of Alphatec Holdings (NASDAQ:ATEC), executed an open-market sale of 19,900 shares for a transaction value of approximately $390,836 on Dec. 16, 2025, as reported in the SEC Form 4 filing.

Transaction summary

Transaction value based on SEC Form 4 weighted average purchase price ($19.64); post-transaction value based on Dec. 16, 2025 transaction price.

Key questions

• How does the transaction compare to the insider's historical trade size?
  This sale of 19,900 shares closely matches Scott Lish's median trade size for all events (19,900 shares) and is slightly above the recent-period median for sell-only trades (15,950 shares), indicating a consistent disposition cadence.
• What is the impact on the insider's overall stake and share capacity?
  Direct holdings decreased by 3.01%, leaving 641,432 shares post-sale, and the declining trend in total holdings signals that future trades may become smaller as the insider's available share capacity continues to contract.
• Was there any indirect or derivative exposure involved in this transaction?
  No; the transaction was fully attributed to direct ownership, with zero shares held indirectly or through derivative instruments involved in the sale.
• How does the current market environment contextualize this sale?
  As of Dec. 16, 2025, Alphatec Holdings shares had delivered a total return of 108.7% over the prior year, and the insider's consistent selling activity reflects ongoing structured liquidity amid strong price appreciation.

Company overview

* 1-year price change calculated using Dec. 16, 2025 as the reference date.

Company snapshot

• Alphatec Holdings develops and markets advanced spinal surgery systems, including neural monitoring, fixation, and implant technologies, as well as biologics and imaging products.
• It generates revenue primarily through the direct sale and distribution of proprietary medical devices and surgical solutions for spinal disorder treatments.
• The company targets hospitals, surgeons, and healthcare providers in the United States, with a focus on the spinal surgery market.

Alphatec Holdings is a U.S.-based medical technology company specializing in innovative surgical solutions for spinal disorders. The company leverages a broad portfolio of proprietary devices and biologics to address a range of spinal pathologies, emphasizing clinical outcomes and procedural efficiency.

Its strategy centers on technology-driven differentiation and direct engagement with spine surgeons to strengthen its competitive position in the U.S. healthcare market.

What this transaction means for investors

Alphatec COO Scott Lish's sale of nearly 20,000 shares in his company does not represent a red flag. He still held over 640,000 direct shares after the disposition.

Mr. Lish's sale came at a time when Alphatec stock had undergone an upswing. Shares hit a 52-week high of $22.66 on Nov. 26, well above the low of $8.81 reached in April. With Alphatec stock's price-to-sales ratio of over four, nearly double the P/S multiple of 2.4 in the first quarter, now is a good time to sell shares.

Alphatec's price appreciation makes sense. The company's third quarter revenue of $197 million represented a 30% year-over-year increase. Its Q3 gross margin of 70% is strong, and although Alphatec is not profitable, having incurred a Q3 operating loss of $15.9 million, that's about half the $33.7 million loss posted in the prior year. The smaller loss from operations indicates a move towards eventual profitability.

Alphatec looks like a solid medical technology company to invest in. Just wait for the share price to drop before deciding to buy.

Glossary

Open-market sale: When an insider sells company stock on a public exchange, not through a private or pre-arranged transaction.
Insider: An executive, director, or major shareholder with access to non-public company information.
Direct ownership: Shares held personally by an individual, not through trusts, funds, or other entities.
Indirect holdings: Shares owned through another entity, such as a trust or family member, rather than directly.
Derivative instruments: Financial contracts whose value is based on the price of an underlying asset, such as options or warrants.
Form 4: A required SEC filing that reports insider trades in company securities.
Transaction value: The total dollar amount received or paid in a securities trade.
Weighted average purchase price: The average price per share, weighted by the number of shares bought or sold at each price.
Liquidity: The ease with which an asset can be quickly bought or sold without affecting its price.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
Proprietary: Owned and controlled by the company, not available for use by others.
TTM: The 12-month period ending with the most recent quarterly report.

Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.