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

Cubist Systematic Strategies LLC lowered its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 78.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,312 shares of the medical technology company's stock after selling 193,796 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Alphatec were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ATEC. Magnetar Financial LLC purchased a new stake in Alphatec in the second quarter worth approximately $10,957,000. First Light Asset Management LLC boosted its stake in shares of 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 worth $90,310,000 after buying an additional 2,943,310 shares during the last quarter. Congress Asset Management Co. MA bought a new stake in shares of Alphatec in the first quarter worth $1,829,000. First Eagle Investment Management LLC bought a new stake in shares of Alphatec in the second quarter worth $1,071,000. Finally, Norden Group LLC increased its position in Alphatec by 1,012.2% during the first quarter. Norden Group LLC now owns 433,764 shares of the medical technology company's stock valued at $5,982,000 after acquiring an additional 394,763 shares during the last quarter. 66.35% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David M. Demski bought 50,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the transaction, the director now owns 288,441 shares in the company, valued at $1,635,460.47. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 22.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley cut Alphatec from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 1st. Canaccord Genuity Group restated a "buy" rating and set a $20.00 target price on shares of Alphatec in a research report on Friday, August 30th. Barclays assumed coverage on shares of Alphatec in a report on Monday, July 8th. They set an "overweight" rating and a $19.00 target price for the company. Piper Sandler dropped their price target on shares of Alphatec from $17.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, August 1st. Finally, Lake Street Capital reduced their price objective on Alphatec from $32.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.50.

Alphatec Price Performance

Alphatec stock traded up $0.27 during mid-day trading on Friday, hitting $5.49. The stock had a trading volume of 1,665,287 shares, compared to its average volume of 1,860,232. Alphatec Holdings, Inc. has a one year low of $4.97 and a one year high of $17.34. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $767.96 million, a P/E ratio of -3.68 and a beta of 1.39. The firm's 50 day moving average is $6.26 and its 200 day moving average is $9.74.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.03). Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The business had revenue of $145.57 million during the quarter, compared to the consensus estimate of $144.55 million. During the same period last year, the company earned ($0.43) EPS. The business's revenue was up 24.5% on a year-over-year basis. On average, sell-side analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share 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.