Lisanti Capital Growth LLC Grows Holdings in Alphatec Holdings, Inc. $ATEC

Key Points

• Lisanti Capital Growth LLC increased its Alphatec stake by 63.8% in the fourth quarter, adding 145,120 shares to bring its total to 372,407 shares worth about $7.8 million. The stock now represents about 1.9% of the fund’s portfolio.
• Several Alphatec insiders sold shares recently, including EVP David Sponsel and General Counsel Tyson Eliot Marshall. Over the past 90 days, insiders have sold 629,189 shares valued at about $7.8 million.
• Analysts cut price targets after Alphatec’s latest quarter, though most still rate the stock a buy or overweight. The company reported a wider-than-expected loss and slightly missed revenue estimates, while shares traded at $8.27 versus an average analyst target of $18.58.

Lisanti Capital Growth LLC lifted its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 63.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 372,407 shares of the medical technology company's stock after purchasing an additional 145,120 shares during the period. Alphatec comprises about 1.9% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 7th biggest position. Lisanti Capital Growth LLC owned 0.25% of Alphatec worth $7,835,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in Alphatec in the 3rd quarter worth $34,000. Osterweis Capital Management Inc. bought a new stake in Alphatec in the 2nd quarter worth $37,000. China Universal Asset Management Co. Ltd. bought a new stake in Alphatec in the 3rd quarter worth $73,000. FNY Investment Advisers LLC bought a new stake in Alphatec in the 3rd quarter worth $74,000. Finally, State of Alaska Department of Revenue bought a new stake in Alphatec in the 3rd quarter worth $120,000. Institutional investors own 66.35% of the company's stock.

Insider Activity at Alphatec

In other Alphatec news, EVP David Sponsel sold 163,452 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total value of $2,046,419.04. Following the completion of the sale, the executive vice president directly owned 504,932 shares in the company, valued at $6,321,748.64. This trade represents a 24.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Tyson Eliot Marshall sold 88,835 shares of the firm's stock in a transaction dated 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 completion of the sale, the general counsel owned 559,459 shares of the company's stock, valued at $6,987,642.91. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 629,189 shares of company stock valued at $7,801,589. 13.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ATEC has been the topic of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a report 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 report on Thursday, May 7th. Lake Street Capital reissued a "buy" rating and issued a $15.00 price target on shares of Alphatec in a report on Wednesday, May 6th. 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 report on Wednesday, May 6th. Finally, 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 report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.58.

Alphatec Stock Performance

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

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The medical technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.21). Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.The company had revenue of $192.11 million during the quarter, compared to analysts' expectations of $197.51 million. During the same quarter last year, the business earned ($0.35) earnings per share. The business's quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts anticipate that Alphatec Holdings, Inc. will post -0.44 EPS 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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