Lazard Asset Management LLC Makes New Investment in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Lazard Asset Management LLC purchased a new position in Alphatec Holdings, Inc. (NASDAQ:ATECGet Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,040 shares of the medical technology company’s stock, valued at approximately $251,000.

Several other large investors have also added to or reduced their stakes in ATEC. US Bancorp DE lifted its stake in shares of Alphatec by 341.1% in the third quarter. US Bancorp DE now owns 3,529 shares of the medical technology company’s stock worth $43,000 after acquiring an additional 2,729 shares in the last quarter. Amplius Wealth Advisors LLC acquired a new position in shares of Alphatec in the fourth quarter worth about $68,000. Cutler Group LP acquired a new position in shares of Alphatec in the fourth quarter worth about $102,000. Maverick Capital Ltd. acquired a new position in shares of Alphatec in the third quarter worth about $111,000. Finally, Citigroup Inc. lifted its stake in shares of Alphatec by 73.4% in the third quarter. Citigroup Inc. now owns 9,308 shares of the medical technology company’s stock worth $113,000 after acquiring an additional 3,941 shares in the last quarter. Institutional investors and hedge funds own 53.52% of the company’s stock.

In other news, SVP Scott Lish sold 5,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $10.94, for a total transaction of $55,794.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 11,490 shares of company stock valued at $122,949 over the last ninety days. Corporate insiders own 34.38% of the company’s stock.

Several research analysts recently commented on ATEC shares. StockNews.com started coverage on Alphatec in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research cut Alphatec from a “hold” rating to a “sell” rating in a research note on Tuesday. HC Wainwright upped their price objective on Alphatec from $19.00 to $20.00 in a research note on Friday, May 6th. Finally, Piper Sandler cut their price objective on Alphatec from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Alphatec currently has a consensus rating of “Hold” and an average target price of $19.00.

NASDAQ:ATEC opened at $8.14 on Friday. The stock has a 50 day moving average of $11.19 and a 200-day moving average of $11.24. Alphatec Holdings, Inc. has a 52 week low of $7.28 and a 52 week high of $16.47. The company has a quick ratio of 2.37, a current ratio of 3.28 and a debt-to-equity ratio of 4.11.

Alphatec (NASDAQ:ATECGet Rating) last posted its earnings results on Tuesday, March 1st. The medical technology company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.09). The company had revenue of $73.96 million for the quarter, compared to the consensus estimate of $73.70 million. Alphatec had a negative net margin of 60.83% and a negative return on equity of 121.77%. During the same period last year, the company posted ($0.35) earnings per share. As a group, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.17 earnings per share for the current fiscal year.

Alphatec Company Profile (Get Rating)

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; squadron lateral retractor designed to maximize patient outcomes; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System that provides minimally invasive pedicle screw placement.

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Institutional Ownership by Quarter for Alphatec (NASDAQ:ATEC)

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