Renaissance Technologies LLC Lowers Stock Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Renaissance Technologies LLC lowered its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 18.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 287,500 shares of the medical technology company’s stock after selling 64,900 shares during the quarter. Renaissance Technologies LLC owned about 0.21% of Alphatec worth $3,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ATEC. Focus Financial Network Inc. ADV purchased a new position in shares of Alphatec during the fourth quarter worth about $207,000. Ghisallo Capital Management LLC purchased a new position in shares of Alphatec during the fourth quarter worth about $1,511,000. Intrinsic Edge Capital Management LLC boosted its holdings in Alphatec by 72.2% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 1,599,849 shares of the medical technology company’s stock valued at $24,174,000 after purchasing an additional 670,788 shares in the last quarter. SG Capital Management LLC purchased a new stake in Alphatec in the 4th quarter valued at approximately $3,636,000. Finally, First Light Asset Management LLC boosted its holdings in Alphatec by 97.0% in the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock valued at $90,310,000 after purchasing an additional 2,943,310 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Buying and Selling at Alphatec

In other Alphatec news, Director David M. Demski purchased 50,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was bought at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the acquisition, the director now owns 288,441 shares of the company’s stock, valued at approximately $1,635,460.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ATEC shares. Stifel Nicolaus lowered their price objective on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Thursday, August 1st. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Wells Fargo & Company lowered their price objective on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Alphatec Stock Performance

Shares of Alphatec stock opened at $5.56 on Tuesday. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21. Alphatec Holdings, Inc. has a 1 year low of $5.28 and a 1 year high of $17.34. The company has a market capitalization of $777.76 million, a P/E ratio of -3.73 and a beta of 1.40. The business has a 50 day moving average price of $6.71 and a 200 day moving average price of $9.94.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The business had revenue of $145.57 million during the quarter, compared to analyst estimates of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The company’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.43) earnings per share. Sell-side analysts anticipate 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.