Alphatec Holdings, Inc. $ATEC Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in Alphatec Holdings, Inc. by 46.6%, acquiring an additional 243,296 shares to hold a total of 765,854 shares valued at approximately $7.77 million.
• Institutional investors collectively own 66.35% of Alphatec's stock, with significant increases in holdings reported by Royal Bank of Canada and Next Century Growth Investors LLC.
• Alphatec's recent earnings report indicated a 27.5% year-over-year revenue increase to $185.54 million, and the company also exceeded earnings per share expectations by reporting $0.02 against a consensus estimate of ($0.06).

Cubist Systematic Strategies LLC raised its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 46.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 765,854 shares of the medical technology company's stock after acquiring an additional 243,296 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.52% of Alphatec worth $7,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Alphatec by 38,433.3% during the first quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock valued at $228,000 after acquiring an additional 2,306 shares during the period. Comerica Bank raised its holdings in Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after acquiring an additional 1,248 shares during the period. Larson Financial Group LLC bought a new stake in Alphatec during the first quarter valued at about $54,000. Lazard Asset Management LLC bought a new stake in Alphatec during the fourth quarter valued at about $76,000. Finally, State of Wyoming bought a new stake in shares of Alphatec in the fourth quarter worth about $86,000. 66.35% of the stock is owned by institutional investors.

Alphatec Trading Down 0.3%

Shares of NASDAQ:ATEC traded down $0.05 during trading hours on Monday, hitting $16.35. 298,631 shares of the company's stock traded hands, compared to its average volume of 2,068,208. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $16.70. The business has a fifty day moving average price of $13.38 and a 200-day moving average price of $11.93. The firm has a market capitalization of $2.42 billion, a P/E ratio of -14.48 and a beta of 1.02. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77.

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

Insider Activity at Alphatec

In other news, COO Scott Lish sold 6,323 shares of Alphatec stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $16.01, for a total transaction of $101,231.23. Following the completion of the sale, the chief operating officer owned 658,707 shares of the company's stock, valued at approximately $10,545,899.07. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Craig E. Hunsaker sold 10,876 shares of Alphatec stock in a transaction that occurred 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 sale, the executive vice president directly owned 1,389,142 shares of the company's stock, valued at $21,295,546.86. This represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 510,247 shares of company stock worth $7,627,527. Insiders own 22.80% of the company's stock.

Wall Street Analyst Weigh In

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