Point72 Asset Management L.P. Has $5.49 Million Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Point72 Asset Management L.P. lessened its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 30.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 598,003 shares of the medical technology company’s stock after selling 262,093 shares during the period. Point72 Asset Management L.P. owned 0.42% of Alphatec worth $5,490,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ATEC. American Century Companies Inc. increased its holdings in Alphatec by 36.5% in the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock worth $45,800,000 after purchasing an additional 1,334,780 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Alphatec by 78.4% in 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 last quarter. Marshall Wace LLP grew its position 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 buying an additional 1,032,070 shares during the last quarter. Emerald Advisers LLC grew its position in shares of Alphatec by 112.4% in the 4th quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company’s stock valued at $13,366,000 after buying an additional 770,586 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its position in shares of Alphatec by 295.4% in the 4th quarter. Tudor Investment Corp ET AL now owns 585,865 shares of the medical technology company’s stock valued at $5,378,000 after buying an additional 437,690 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ATEC shares. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Alphatec in a research report on Friday, May 2nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Monday, April 14th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. StockNews.com upgraded Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Barclays upped their target price on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.89.

Alphatec Stock Performance

NASDAQ:ATEC opened at $13.03 on Tuesday. The company has a fifty day moving average of $10.80 and a 200-day moving average of $10.44. The firm has a market capitalization of $1.90 billion, a P/E ratio of -10.18 and a beta of 1.06. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. Alphatec Holdings, Inc. has a twelve month low of $4.88 and a twelve month high of $13.07.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). The firm 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%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.34) EPS. As a group, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other Alphatec news, CEO Patrick Miles sold 32,393 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total value of $352,759.77. Following the transaction, the chief executive officer now owns 5,940,391 shares in the company, valued at approximately $64,690,857.99. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Sponsel sold 12,946 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $10.73, for a total value of $138,910.58. Following the completion of the transaction, the executive vice president now owns 722,128 shares in the company, valued at approximately $7,748,433.44. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,945 shares of company stock worth $1,416,352. Corporate insiders own 20.90% of the company’s stock.

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.