Renaissance Technologies LLC Has $2.68 Million Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Renaissance Technologies LLC raised its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 106.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,100 shares of the medical technology company's stock after acquiring an additional 150,500 shares during the period. Renaissance Technologies LLC owned approximately 0.21% of Alphatec worth $2,681,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ATEC. Vanguard Group Inc. raised its stake in shares of Alphatec by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company's stock valued at $54,795,000 after purchasing an additional 47,797 shares in the last quarter. American Century Companies Inc. grew its holdings in Alphatec by 36.5% during the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock worth $45,800,000 after acquiring an additional 1,334,780 shares during the period. Geode Capital Management LLC grew its holdings in Alphatec by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company's stock worth $21,919,000 after acquiring an additional 24,283 shares during the period. Emerald Advisers LLC raised its position in Alphatec by 112.4% in the fourth quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company's stock worth $13,366,000 after acquiring an additional 770,586 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Alphatec by 21.2% in the 4th quarter. New York State Common Retirement Fund now owns 1,202,334 shares of the medical technology company's stock valued at $11,037,000 after acquiring an additional 210,519 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Alphatec Stock Performance

NASDAQ ATEC traded down $0.23 during trading on Wednesday, hitting $10.98. The company's stock had a trading volume of 1,372,636 shares, compared to its average volume of 2,050,054. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $13.79. The firm has a market cap of $1.58 billion, a P/E ratio of -8.58 and a beta of 1.20. The firm has a 50 day moving average price of $10.42 and a 200 day moving average price of $9.78. 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 issued its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.04). The company had revenue of $176.79 million during the quarter, compared to the consensus estimate of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Equities research analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP David Sponsel sold 12,946 shares of Alphatec stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $10.73, for a total transaction of $138,910.58. Following the sale, the executive vice president now directly owns 722,128 shares of the company's stock, valued at approximately $7,748,433.44. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick Miles sold 12,691 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.64, for a total value of $135,032.24. Following the completion of the transaction, the chief executive officer now directly owns 5,857,603 shares of the company's stock, valued at approximately $62,324,895.92. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,113 shares of company stock valued at $2,519,725 in the last quarter. Corporate insiders own 22.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ATEC. StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set a $16.00 price objective on shares of Alphatec in a research note on Thursday, February 27th. Piper Sandler lifted their target price on Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Barclays upped their target price on Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.67.

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.