Point72 Asset Management L.P. Cuts Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Point72 Asset Management L.P. decreased its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 30.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm 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 approximately 0.42% of Alphatec worth $5,490,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Congress Asset Management Co. grew its stake in shares of Alphatec by 235.4% during the fourth quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company's stock valued at $3,993,000 after buying an additional 305,296 shares during the last quarter. Rhumbline Advisers increased its holdings in Alphatec by 1.3% during the 4th quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company's stock valued at $1,277,000 after purchasing an additional 1,746 shares during the period. Northern Trust Corp increased its holdings in Alphatec by 12.0% during the 4th quarter. Northern Trust Corp now owns 1,014,743 shares of the medical technology company's stock valued at $9,315,000 after purchasing an additional 108,959 shares during the period. Russell Investments Group Ltd. increased its holdings in Alphatec by 20.0% during the 4th quarter. Russell Investments Group Ltd. now owns 199,886 shares of the medical technology company's stock valued at $1,835,000 after purchasing an additional 33,362 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Alphatec by 973.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock valued at $43,000 after purchasing an additional 4,234 shares during the period. Institutional investors own 66.35% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ATEC shares. Wall Street Zen upgraded Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and set a $16.00 price target on shares of Alphatec in a report on Friday, May 2nd. Piper Sandler restated an "overweight" rating and set a $15.00 price target (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Finally, HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.

Alphatec Stock Down 0.2%

Alphatec stock traded down $0.03 during trading hours on Friday, hitting $12.45. 1,300,728 shares of the stock traded hands, compared to its average volume of 2,041,820. The firm's 50-day moving average price is $11.06 and its two-hundred day moving average price is $10.55. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The company has a market cap of $1.82 billion, a PE ratio of -9.73 and a beta of 1.06. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $13.14.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.23). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The company had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. During the same period in the prior year, the firm earned ($0.34) earnings per share. The business's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Transactions at Alphatec

In other news, COO Scott Lish sold 55,375 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $13.00, for a total transaction of $719,875.00. Following the transaction, the chief operating officer now directly owns 771,645 shares of the company's stock, valued at $10,031,385. This represents a 6.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Sponsel sold 12,946 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $10.73, for a total value of $138,910.58. Following the transaction, the executive vice president now directly owns 722,128 shares in the company, valued at $7,748,433.44. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,320 shares of company stock valued at $2,136,227 in the last ninety days. 20.90% of the stock is currently owned by corporate insiders.

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.