Point72 Asset Management L.P. Buys 1,260,137 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Point72 Asset Management L.P. lifted its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 65.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,192,789 shares of the medical technology company’s stock after purchasing an additional 1,260,137 shares during the period. Point72 Asset Management L.P. owned 2.28% of Alphatec worth $33,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP grew its position in shares of Alphatec by 44.7% during the 2nd quarter. Marshall Wace LLP now owns 1,099,692 shares of the medical technology company’s stock worth $11,492,000 after buying an additional 339,832 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Alphatec in the second quarter valued at about $10,957,000. Sei Investments Co. lifted its stake in Alphatec by 4.7% in the second quarter. Sei Investments Co. now owns 111,460 shares of the medical technology company’s stock worth $1,165,000 after acquiring an additional 4,976 shares during the period. King Luther Capital Management Corp grew its holdings in Alphatec by 14.7% during the 2nd quarter. King Luther Capital Management Corp now owns 1,062,720 shares of the medical technology company’s stock worth $11,105,000 after acquiring an additional 136,492 shares in the last quarter. Finally, Granite Investment Partners LLC raised its holdings in shares of Alphatec by 130.2% in the 2nd quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock valued at $6,941,000 after purchasing an additional 375,621 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

Alphatec Price Performance

Shares of ATEC stock opened at $5.49 on Friday. Alphatec Holdings, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $17.34. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. The firm has a market capitalization of $767.96 million, a price-to-earnings ratio of -3.68 and a beta of 1.40. The stock’s 50-day simple moving average is $6.93 and its 200-day simple moving average is $10.10.

Alphatec (NASDAQ:ATEC) last released its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The company had revenue of $145.57 million for the quarter, compared to analysts’ expectations of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.43) EPS. As a group, equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In other news, Director David M. Demski purchased 50,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was bought at an average price of $5.67 per share, with a total value of $283,500.00. Following the transaction, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ATEC has been the subject of several research reports. Barclays started coverage on shares of Alphatec in a research report on Monday, July 8th. They issued an “overweight” rating and a $19.00 price target for the company. Wells Fargo & Company cut their price target on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Lake Street Capital decreased their price objective on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Thursday, August 1st. Finally, Stifel Nicolaus reduced their target price on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.50.

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.