AQR Capital Management LLC Has $2.96 Million Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

AQR Capital Management LLC increased its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 129.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 283,254 shares of the medical technology company's stock after acquiring an additional 159,600 shares during the period. AQR Capital Management LLC owned 0.20% of Alphatec worth $2,960,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Fred Alger Management LLC increased its holdings in shares of Alphatec by 0.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,638,303 shares of the medical technology company's stock valued at $27,570,000 after acquiring an additional 21,078 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Alphatec by 65.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company's stock valued at $33,365,000 after purchasing an additional 1,260,137 shares during the period. Marshall Wace LLP boosted its stake in Alphatec by 44.7% during the 2nd quarter. Marshall Wace LLP now owns 1,099,692 shares of the medical technology company's stock valued at $11,492,000 after purchasing an additional 339,832 shares during the period. Magnetar Financial LLC bought a new stake in Alphatec during the 2nd quarter valued at approximately $10,957,000. Finally, Sei Investments Co. boosted its stake in Alphatec by 4.7% during the 2nd quarter. Sei Investments Co. now owns 111,460 shares of the medical technology company's stock valued at $1,165,000 after purchasing an additional 4,976 shares during the period. Institutional investors and hedge funds own 66.35% of the company's stock.

Insider Buying and Selling

In related news, Director David M. Demski bought 50,000 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the transaction, the director now directly owns 288,441 shares of the company's stock, valued at $1,635,460.47. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ATEC has been the subject of several recent analyst reports. Morgan Stanley downgraded Alphatec from an "overweight" rating to an "equal weight" rating in a research note 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 note on Friday, August 30th. Wells Fargo & Company decreased their target price on Alphatec from $26.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, August 1st. Piper Sandler decreased their target price on Alphatec from $17.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, August 1st. Finally, Needham & Company LLC reduced their price objective on Alphatec from $23.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.50.

Alphatec Stock Performance

Shares of ATEC stock traded down $0.11 during mid-day trading on Tuesday, reaching $5.38. The stock had a trading volume of 1,330,859 shares, compared to its average volume of 1,856,336. 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 firm has a market cap of $752.58 million, a PE ratio of -3.61 and a beta of 1.39. Alphatec Holdings, Inc. has a one year low of $4.97 and a one year high of $17.34. The firm's 50 day simple moving average is $6.08 and its 200 day simple moving average is $9.60.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its earnings results 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). The company had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. Alphatec's quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.43) EPS. On average, analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

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.