AQR Capital Management LLC Buys 47,939 Shares of 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 grew its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 7.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 676,897 shares of the medical technology company's stock after purchasing an additional 47,939 shares during the period. AQR Capital Management LLC owned approximately 0.46% of Alphatec worth $6,864,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Nuveen LLC acquired a new position in shares of Alphatec during the first quarter valued at $135,874,000. Vanguard Group Inc. lifted its holdings in shares of Alphatec by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company's stock valued at $60,990,000 after buying an additional 45,792 shares during the period. American Century Companies Inc. lifted its holdings in shares of Alphatec by 16.9% in the first quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company's stock valued at $59,117,000 after buying an additional 840,974 shares during the period. Royal Bank of Canada boosted its stake in Alphatec by 10.8% during the first quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company's stock valued at $35,773,000 after buying an additional 342,656 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Alphatec by 78.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock worth $23,730,000 after acquiring an additional 1,136,330 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Stock Down 1.4%

Shares of ATEC traded down $0.21 during mid-day trading on Monday, reaching $15.05. The company's stock had a trading volume of 1,231,788 shares, compared to its average volume of 2,072,365. The business has a fifty day moving average of $13.85 and a 200 day moving average of $12.09. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -13.32 and a beta of 1.02. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $16.70. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22.

Alphatec (NASDAQ:ATEC - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $178.85 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%.The company's revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) earnings per share. Alphatec has set its FY 2025 guidance at EPS. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Craig E. Hunsaker sold 10,876 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $15.33, for a total transaction of $166,729.08. Following the transaction, the executive vice president directly owned 1,389,142 shares in the company, valued at $21,295,546.86. The trade was a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Scott Lish sold 6,323 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $16.01, for a total value of $101,231.23. Following the completion of the transaction, the chief operating officer owned 658,707 shares in the company, valued at $10,545,899.07. This trade represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 546,057 shares of company stock valued at $8,326,072. 22.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.