Patrick Miles, CEO of Alphatec, sold 180,000 shares of the company for about $2.42 million, Seeking Alpha reported Sept. 20.
The sales were disclosed in an SEC filing and reported pursuant to a Rule 10b5-1 trading plan, the report said.
Mr. Miles' stock sale comes just over a month after the company reported $177 million second quarter revenue, a 39 percent increase year-over-year. The company also saw a banner year in 2022 with a 44 percent revenue jump.
This year, Alphatec is expecting its 2023 revenue to grow 32 percent year-over-year.