Jefferies Financial Group Inc. Has $12.54 Million Stake in Alphatec Holdings, Inc. $ATEC

Key Points

• Jefferies Financial Group increased its Alphatec stake by 983.5% in the fourth quarter, ending with 595,937 shares worth about $12.54 million.
• Insider selling was notable, with COO Scott Lish and General Counsel Tyson Eliot Marshall both trimming holdings; insiders sold a total of 629,189 shares over the last 90 days.
• Several analysts cut price targets on Alphatec after its latest earnings miss, though the stock still carries a Moderate Buy consensus and an average target price of $18.58.

Jefferies Financial Group Inc. lifted its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 983.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 595,937 shares of the medical technology company's stock after buying an additional 540,937 shares during the quarter. Jefferies Financial Group Inc. owned about 0.40% of Alphatec worth $12,539,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Alphatec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company's stock worth $750,000 after acquiring an additional 3,196 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Alphatec during the 1st quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alphatec by 18.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company's stock worth $2,696,000 after acquiring an additional 41,264 shares during the last quarter. Quantbot Technologies LP bought a new position in Alphatec during the 2nd quarter worth approximately $242,000. Finally, Invesco Ltd. boosted its stake in Alphatec by 455.0% during the 2nd quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company's stock worth $3,133,000 after acquiring an additional 231,367 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Insider Activity

In other Alphatec news, COO Scott Lish sold 260,535 shares of the company's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $12.30, for a total value of $3,204,580.50. Following the transaction, the chief operating officer directly owned 815,704 shares in the company, valued at $10,033,159.20. The trade was a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 88,835 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the completion of the transaction, the general counsel owned 559,459 shares in the company, valued at approximately $6,987,642.91. This represents a 13.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 629,189 shares of company stock valued at $7,801,589 in the last ninety days. Corporate insiders own 13.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen cut their price target on shares of Alphatec from $20.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Canaccord Genuity Group cut their price target on shares of Alphatec from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Wells Fargo & Company cut their price target on shares of Alphatec from $28.00 to $14.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. Needham & Company LLC cut their price target on shares of Alphatec from $25.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Alphatec from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Alphatec currently has an average rating of "Moderate Buy" and an average target price of $18.58.

Alphatec Price Performance

Shares of ATEC opened at $8.27 on Monday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -10.09 and a beta of 0.96. Alphatec Holdings, Inc. has a 1-year low of $6.82 and a 1-year high of $23.29. The company's fifty day simple moving average is $10.32 and its 200 day simple moving average is $15.17. 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 - Get Free Report) last issued its earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.21). The firm had revenue of $192.11 million for the quarter, compared to analyst estimates of $197.51 million. Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.Alphatec's quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. On average, research analysts forecast that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current fiscal year.

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.

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