Legato Capital Management LLC Acquires New Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Legato Capital Management LLC purchased a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 59,135 shares of the medical technology company's stock, valued at approximately $600,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Alphatec by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company's stock valued at $54,795,000 after buying an additional 47,797 shares during the period. American Century Companies Inc. lifted its holdings in shares of Alphatec by 36.5% during the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock valued at $45,800,000 after buying an additional 1,334,780 shares during the period. Royal Bank of Canada lifted its holdings in shares of Alphatec by 171.2% during the 4th quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock valued at $29,240,000 after buying an additional 2,010,806 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Alphatec by 78.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after buying an additional 1,136,330 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Alphatec by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company's stock valued at $21,919,000 after buying an additional 24,283 shares during the period. 66.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphatec news, COO Scott Lish sold 3,982 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $12.00, for a total value of $47,784.00. Following the completion of the sale, the chief operating officer owned 744,936 shares in the company, valued at approximately $8,939,232. This represents a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Karen K. Mcginnis sold 3,963 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total transaction of $47,991.93. Following the transaction, the director directly owned 68,709 shares of the company's stock, valued at $832,065.99. This trade represents a 5.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 299,547 shares of company stock worth $3,698,956. Corporate insiders own 20.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Lake Street Capital raised Alphatec to a "buy" rating and set a $18.00 price target on the stock in a report on Monday, June 16th. Piper Sandler reissued an "overweight" rating and set a $15.00 price target (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, April 14th. Finally, Needham & Company LLC restated a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.13.

Alphatec Stock Up 1.0%

ATEC stock traded up $0.11 during trading on Friday, reaching $10.82. The company's stock had a trading volume of 857,795 shares, compared to its average volume of 1,440,822. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $13.14. The company has a market capitalization of $1.58 billion, a P/E ratio of -9.41 and a beta of 1.05. The company's fifty day moving average is $11.54 and its 200-day moving average is $11.10.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.23). Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 25.77%. The business had revenue of $169.18 million during the quarter, compared to analysts' expectations of $167.57 million. During the same quarter in the previous year, the company posted ($0.34) EPS. The company's quarterly revenue was up 22.2% on a year-over-year basis. Analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Alphatec Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.