Alphatec Holdings, Inc. $ATEC Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,055,100 shares of the medical technology company's stock after purchasing an additional 184,969 shares during the period. Renaissance Technologies LLC owned about 0.69% of Alphatec worth $11,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in shares of Alphatec by 102.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 507,017 shares of the medical technology company's stock valued at $5,516,000 after buying an additional 256,342 shares during the last quarter. Sei Investments Co. boosted its stake in Alphatec by 62.2% in the first quarter. Sei Investments Co. now owns 598,003 shares of the medical technology company's stock valued at $6,506,000 after acquiring an additional 229,238 shares during the period. Lido Advisors LLC bought a new position in shares of Alphatec during the first quarter valued at approximately $115,000. State of Wyoming raised its position in shares of Alphatec by 709.9% during the 1st quarter. State of Wyoming now owns 14,302 shares of the medical technology company's stock worth $156,000 after purchasing an additional 12,536 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Alphatec by 43.9% during the 1st quarter. Cetera Investment Advisers now owns 35,468 shares of the medical technology company's stock worth $386,000 after purchasing an additional 10,818 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Cowen reduced their price objective on Alphatec from $20.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Lake Street Capital reaffirmed a "buy" rating and issued a $15.00 target price on shares of Alphatec in a research report on Wednesday, May 6th. Weiss Ratings upgraded Alphatec from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 6th. BMO Capital Markets started coverage on shares of Alphatec in a report on Wednesday, July 8th. They set an "outperform" rating and a $11.00 price target for the company. Finally, Stephens began coverage on shares of Alphatec in a report on Thursday, July 23rd. They issued an "overweight" rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.13.

Insider Transactions at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the transaction, the director owned 94,671 shares in the company, valued at approximately $758,314.71. The trade was a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 13.48% of the company's stock.

Alphatec Stock Performance

Shares of ATEC stock opened at $9.52 on Friday. Alphatec Holdings, Inc. has a 12-month low of $6.82 and a 12-month high of $23.29. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -11.61 and a beta of 0.85. The business has a 50 day simple moving average of $8.62 and a 200 day simple moving average of $10.96.

Alphatec 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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