Two Sigma Advisers LP Acquires 62,400 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Two Sigma Advisers LP boosted its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 74.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,900 shares of the medical technology company's stock after acquiring an additional 62,400 shares during the period. Two Sigma Advisers LP owned 0.10% of Alphatec worth $1,339,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, COO Scott Lish sold 55,375 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $13.00, for a total value of $719,875.00. Following the completion of the sale, the chief operating officer now owns 771,645 shares of the company's stock, valued at approximately $10,031,385. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Sponsel sold 33,732 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $10.83, for a total value of $365,317.56. Following the completion of the sale, the executive vice president now owns 668,977 shares in the company, valued at $7,245,020.91. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,798 shares of company stock valued at $1,365,665. Insiders own 20.90% of the company's stock.

Wall Street Analyst Weigh In

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

Alphatec Trading Down 3.0%

Alphatec stock traded down $0.38 during trading hours on Wednesday, hitting $12.28. The stock had a trading volume of 1,712,951 shares, compared to its average volume of 2,042,306. The business's 50 day simple moving average is $11.42 and its 200-day simple moving average is $10.71. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $13.14. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -9.59 and a beta of 1.06. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

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

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.