Millennium Management LLC Cuts Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Millennium Management LLC trimmed its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 34.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,398,402 shares of the medical technology company's stock after selling 1,760,524 shares during the period. Millennium Management LLC owned about 2.43% of Alphatec worth $35,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in Alphatec by 11.8% during the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company's stock valued at $128,000 after purchasing an additional 1,300 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Alphatec by 8.5% in the first quarter. ProShare Advisors LLC now owns 16,572 shares of the medical technology company's stock worth $229,000 after acquiring an additional 1,304 shares during the last quarter. Bayesian Capital Management LP raised its stake in shares of Alphatec by 5.6% in the first quarter. Bayesian Capital Management LP now owns 27,000 shares of the medical technology company's stock worth $372,000 after acquiring an additional 1,442 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Alphatec by 15.6% in the first quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company's stock worth $175,000 after acquiring an additional 1,720 shares during the last quarter. Finally, Bridgefront Capital LLC raised its stake in shares of Alphatec by 10.3% in the fourth quarter. Bridgefront Capital LLC now owns 22,846 shares of the medical technology company's stock worth $345,000 after acquiring an additional 2,128 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ATEC shares. Needham & Company LLC lowered their price target on shares of Alphatec from $23.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Alphatec in a research report on Thursday, August 1st. Canaccord Genuity Group restated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. Wells Fargo & Company decreased their price objective on shares of Alphatec from $26.00 to $19.00 and set an "overweight" rating for the company in a report on Thursday, August 1st. Finally, Lake Street Capital decreased their price objective on shares of Alphatec from $32.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.50.

Alphatec Stock Performance

NASDAQ ATEC traded down $0.03 on Thursday, hitting $5.22. 1,845,273 shares of the stock were exchanged, compared to its average volume of 1,860,795. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21. The business's fifty day moving average is $6.48 and its 200 day moving average is $9.86. Alphatec Holdings, Inc. has a 52 week low of $4.97 and a 52 week high of $17.34. The company has a market capitalization of $730.19 million, a PE ratio of -3.42 and a beta of 1.40.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing the consensus estimate 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 company had revenue of $145.57 million during the quarter, compared to analyst estimates of $144.55 million. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. Alphatec's revenue for the quarter was up 24.5% on a year-over-year basis. Research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity at Alphatec

In other news, Director David M. Demski acquired 50,000 shares of Alphatec stock in a transaction on Wednesday, August 21st. The shares were purchased at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the purchase, the director now directly owns 288,441 shares of the company's stock, valued at approximately $1,635,460.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 22.80% 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.