Legato Capital Management LLC Acquires 63,715 Shares of Alphatec Holdings, Inc. $ATEC

Legato Capital Management LLC lifted its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 162.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,945 shares of the medical technology company’s stock after acquiring an additional 63,715 shares during the period. Legato Capital Management LLC owned 0.07% of Alphatec worth $2,166,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. ProShare Advisors LLC lifted its holdings in shares of Alphatec by 8.2% in the 4th quarter. ProShare Advisors LLC now owns 21,470 shares of the medical technology company’s stock valued at $452,000 after acquiring an additional 1,633 shares during the last quarter. Versor Investments LP lifted its holdings in shares of Alphatec by 8.1% in the 4th quarter. Versor Investments LP now owns 30,584 shares of the medical technology company’s stock valued at $643,000 after acquiring an additional 2,284 shares during the last quarter. Pier Capital LLC bought a new position in shares of Alphatec in the 4th quarter valued at about $4,835,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Alphatec by 9.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company’s stock valued at $317,000 after acquiring an additional 1,353 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Alphatec in the 4th quarter valued at about $221,000. Institutional investors own 66.35% of the company’s stock.

Alphatec Stock Performance

Shares of NASDAQ:ATEC opened at $8.27 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of -10.09 and a beta of 0.96. The firm’s 50 day simple moving average is $10.32 and its 200-day simple moving average is $15.20. Alphatec Holdings, Inc. has a one year low of $6.82 and a one year high of $23.29. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.21). The company had revenue of $192.11 million for the quarter, compared to analysts’ expectations of $197.51 million. Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.The business’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. As a group, equities analysts predict that Alphatec Holdings, Inc. will post -0.44 EPS for the current year.

Insider Activity at Alphatec

In other news, EVP Craig E. Hunsaker sold 82,765 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $12.45, for a total transaction of $1,030,424.25. Following the transaction, the executive vice president directly owned 1,726,209 shares of the company’s stock, valued at approximately $21,491,302.05. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Tyson Eliot Marshall sold 88,835 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the transaction, the general counsel directly owned 559,459 shares in the company, valued at approximately $6,987,642.91. This trade represents a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 629,189 shares of company stock valued at $7,801,589. 13.48% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ATEC. Needham & Company LLC reduced their price objective on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Alphatec in a research report on Thursday, May 7th. Wells Fargo & Company reduced their price objective on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.58.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.