Cubist Systematic Strategies LLC Cuts Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Cubist Systematic Strategies LLC trimmed its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 78.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,312 shares of the medical technology company’s stock after selling 193,796 shares during the period. Cubist Systematic Strategies LLC’s holdings in Alphatec were worth $547,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ATEC. Comerica Bank boosted its stake in shares of Alphatec by 64.8% in the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after buying an additional 2,534 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Alphatec by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after buying an additional 1,300 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Alphatec in the 1st quarter worth $141,000. SG Americas Securities LLC boosted its stake in shares of Alphatec by 44.6% in the 2nd quarter. SG Americas Securities LLC now owns 14,495 shares of the medical technology company’s stock worth $151,000 after buying an additional 4,472 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Alphatec by 15.6% in the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock worth $175,000 after buying an additional 1,720 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Price Performance

NASDAQ:ATEC opened at $5.15 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. The business’s 50-day simple moving average is $5.93 and its two-hundred day simple moving average is $9.45. The stock has a market cap of $720.40 million, a PE ratio of -3.46 and a beta of 1.39. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $17.34.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The business had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. During the same period in the prior year, the business earned ($0.43) earnings per share. Alphatec’s revenue was up 24.5% compared to the same quarter last year. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In other news, Director David M. Demski bought 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average cost of $5.67 per share, with a total value of $283,500.00. Following the completion of the acquisition, the director now owns 288,441 shares of the company’s stock, valued at $1,635,460.47. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ATEC shares. Needham & Company LLC dropped their price target on Alphatec from $23.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Stifel Nicolaus lowered their target price on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company lowered their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Piper Sandler lowered their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Morgan Stanley downgraded Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Alphatec presently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

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.