Cubist Systematic Strategies LLC Sells 193,796 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Cubist Systematic Strategies LLC reduced its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 78.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,312 shares of the medical technology company’s stock after selling 193,796 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Alphatec were worth $547,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ATEC shares. Piper Sandler dropped their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. 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. Morgan Stanley downgraded shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Barclays began coverage on shares of Alphatec in a research report on Monday, July 8th. They set an “overweight” rating and a $19.00 price target on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

Alphatec Trading Up 5.2 %

Alphatec stock opened at $5.49 on Friday. The stock has a 50-day simple moving average of $6.26 and a 200 day simple moving average of $9.77. The stock has a market capitalization of $767.96 million, a P/E ratio of -3.68 and a beta of 1.39. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. Alphatec Holdings, Inc. has a 52 week low of $4.97 and a 52 week high of $17.34.

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

Insider Buying and Selling

In related news, Director David M. Demski purchased 50,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were purchased at an average cost of $5.67 per share, with a total value of $283,500.00. Following the acquisition, the director now directly owns 288,441 shares in the company, valued at $1,635,460.47. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 22.80% of the stock is currently owned by insiders.

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.