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

Cubist Systematic Strategies LLC trimmed its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 78.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 reporting period.

Several other large investors have also bought and sold shares of ATEC. Point72 Asset Management L.P. boosted its position in shares of 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 in the last quarter. Magnetar Financial LLC bought a new position in shares of Alphatec during the 2nd quarter worth approximately $10,957,000. Goldman Sachs Group Inc. increased its stake in shares of Alphatec by 93.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company's stock valued at $21,932,000 after acquiring an additional 702,950 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Alphatec by 48.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company's stock valued at $29,305,000 after acquiring an additional 690,022 shares during the period. Finally, Norden Group LLC boosted its stake 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 worth $5,982,000 after acquiring an additional 394,763 shares in the last quarter. 66.35% of the stock is owned by institutional investors.

Alphatec Stock Performance

NASDAQ:ATEC traded up $0.17 during trading on Friday, reaching $5.15. The company's stock had a trading volume of 2,962,035 shares, compared to its average volume of 1,862,842. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $17.34. The firm has a market cap of $720.40 million, a price-to-earnings ratio of -3.46 and a beta of 1.39. The firm has a 50 day moving average of $5.93 and a 200-day moving average of $9.42. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ATEC. Stifel Nicolaus cut their price target on Alphatec from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. Canaccord Genuity Group reissued a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 30th. Barclays began coverage on shares of Alphatec in a report on Monday, July 8th. They set an "overweight" rating and a $19.00 price objective on the stock. Wells Fargo & Company reduced 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, HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a research note 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.50.

Insider Buying and Selling at Alphatec

In other news, Director David M. Demski acquired 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $5.67 per share, with a total value of $283,500.00. Following the acquisition, 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 position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 22.80% of the company's stock.

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.