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

Legato Capital Management LLC increased its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 162.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,945 shares of the medical technology company’s stock after purchasing an additional 63,715 shares during the period. Legato Capital Management LLC’s holdings in Alphatec were worth $2,166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ProShare Advisors LLC boosted its stake in shares of Alphatec by 8.2% during the fourth quarter. ProShare Advisors LLC now owns 21,470 shares of the medical technology company’s stock valued at $452,000 after purchasing an additional 1,633 shares in the last quarter. Versor Investments LP boosted its stake in Alphatec by 8.1% in the fourth 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 in the last quarter. Pier Capital LLC acquired a new stake in Alphatec in the fourth quarter valued at approximately $4,835,000. Oppenheimer Asset Management Inc. boosted its stake in Alphatec by 9.9% in the fourth 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 in the last quarter. Finally, R Squared Ltd acquired a new stake in Alphatec in the fourth quarter valued at approximately $221,000. 66.35% of the stock is currently owned by institutional investors.

Alphatec Trading Up 0.5%

NASDAQ ATEC opened at $8.27 on Friday. The company has a fifty day simple moving average of $10.32 and a two-hundred day simple moving average of $15.20. The stock has a market cap of $1.27 billion, a P/E ratio of -10.09 and a beta of 0.96. Alphatec Holdings, Inc. has a 12-month low of $6.82 and a 12-month high of $23.29. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.21). The company had revenue of $192.11 million during 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 company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) EPS. On average, analysts forecast that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current year.

Insider Activity at Alphatec

In related news, COO Scott Lish sold 260,535 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $12.30, for a total transaction of $3,204,580.50. Following the completion of the transaction, the chief operating officer owned 815,704 shares of the company’s stock, valued at $10,033,159.20. This trade represents a 24.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 88,835 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $6,987,642.91. This trade represents a 13.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 629,189 shares of company stock worth $7,801,589. Corporate insiders own 13.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ATEC. Canaccord Genuity Group lowered their target price on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company lowered their target price on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. JPMorgan Chase & Co. lowered their target price on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Finally, Barclays lowered their target price on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

About Alphatec

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.