Lazard Asset Management LLC Invests $76,000 in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Lazard Asset Management LLC acquired a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,348 shares of the medical technology company’s stock, valued at approximately $76,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. boosted its stake in Alphatec by 36.5% in the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock worth $45,800,000 after buying an additional 1,334,780 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Alphatec by 139.2% in the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company’s stock valued at $16,278,000 after purchasing an additional 1,032,070 shares in the last quarter. Emerald Advisers LLC raised its position in Alphatec by 112.4% in the 4th quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company’s stock worth $13,366,000 after purchasing an additional 770,586 shares during the period. Tudor Investment Corp ET AL lifted its stake in Alphatec by 295.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 585,865 shares of the medical technology company’s stock worth $5,378,000 after purchasing an additional 437,690 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Alphatec by 94.3% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 841,643 shares of the medical technology company’s stock valued at $7,726,000 after buying an additional 408,516 shares during the period. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Stock Down 0.2%

Shares of NASDAQ ATEC opened at $12.45 on Monday. The firm has a fifty day simple moving average of $11.06 and a two-hundred day simple moving average of $10.55. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $13.14. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $1.82 billion, a PE ratio of -9.73 and a beta of 1.06.

Alphatec (NASDAQ:ATEC) last released 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). The company had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. Alphatec’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) earnings per share. Equities analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Activity at Alphatec

In other news, CEO Patrick Miles sold 12,691 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.64, for a total value of $135,032.24. Following the sale, the chief executive officer now directly owns 5,857,603 shares of the company’s stock, valued at $62,324,895.92. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Scott Lish sold 23,183 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $12.03, for a total value of $278,891.49. Following the completion of the sale, the chief operating officer now owns 844,494 shares in the company, valued at $10,159,262.82. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 169,374 shares of company stock worth $1,997,316 over the last ninety days. 20.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Wall Street Zen raised Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. Finally, Piper Sandler reiterated 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.89.

Alphatec Company 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.