AQR Capital Management LLC Has $6.86 Million Holdings in Alphatec Holdings, Inc. $ATEC

Key Points

• AQR Capital Management LLC increased its stake in Alphatec Holdings, Inc. by 7.6%, acquiring 47,939 shares during the first quarter, bringing its total holdings to approximately $6.86 million.
• Analysts have upgraded Alphatec's stock rating, with several firms issuing "buy" ratings and price targets, including an upgraded target of $22 from Barclays.
• Alphatec reported a revenue increase of 27.5% year-over-year, posting $185.54 million in revenue during its latest quarter, alongside positive earnings that exceeded estimates.

AQR Capital Management LLC raised its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 676,897 shares of the medical technology company's stock after purchasing an additional 47,939 shares during the quarter. AQR Capital Management LLC owned 0.46% of Alphatec worth $6,864,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Alphatec by 38,433.3% in the 1st quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock worth $228,000 after acquiring an additional 2,306 shares in the last quarter. Comerica Bank boosted its holdings in shares of Alphatec by 66.8% in the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after acquiring an additional 1,248 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Alphatec in the 1st quarter worth approximately $54,000. Lazard Asset Management LLC acquired a new position in shares of Alphatec in the 4th quarter worth approximately $76,000. Finally, State of Wyoming acquired a new position in shares of Alphatec in the 4th quarter worth approximately $86,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Stock Performance

Shares of ATEC stock traded down $0.33 on Wednesday, reaching $14.70. The stock had a trading volume of 1,789,459 shares, compared to its average volume of 1,931,239. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. The firm's 50-day moving average is $14.06 and its two-hundred day moving average is $12.15. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -13.01 and a beta of 1.02. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $16.70.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. The company had revenue of $185.54 million for the quarter, compared to analysts' expectations of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. Alphatec's quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. On average, research analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ATEC. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price objective for the company in a research report on Monday, June 16th. Canaccord Genuity Group reiterated a "buy" rating and set a $20.00 target price on shares of Alphatec in a research report on Friday, August 1st. Wall Street Zen raised shares of Alphatec from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Finally, Barclays reaffirmed an "overweight" rating and issued a $22.00 target price (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $18.50.

Insider Buying and Selling

In other news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total value of $269,751.72. Following the sale, the general counsel directly owned 438,331 shares of the company's stock, valued at approximately $6,535,515.21. This represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Miles sold 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $15.73, for a total transaction of $4,719,000.00. Following the sale, the chief executive officer owned 5,564,078 shares of the company's stock, valued at $87,522,946.94. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 546,057 shares of company stock worth $8,326,072 in the last 90 days. 20.90% of the stock is owned by corporate insiders.

About Alphatec

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.