Point72 Asset Management L.P. Cuts Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Point72 Asset Management L.P. lowered its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 73.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 860,096 shares of the medical technology company's stock after selling 2,332,693 shares during the period. Point72 Asset Management L.P. owned 0.61% of Alphatec worth $4,782,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ATEC. Magnetar Financial LLC bought a new stake in shares of Alphatec in the 2nd quarter valued at $10,957,000. First Eagle Investment Management LLC bought a new stake in shares of Alphatec in the 2nd quarter valued at $1,071,000. Lighthouse Investment Partners LLC increased its stake in shares of Alphatec by 257.5% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 208,594 shares of the medical technology company's stock valued at $2,180,000 after acquiring an additional 150,244 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Alphatec by 11.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company's stock valued at $16,280,000 after acquiring an additional 297,850 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in Alphatec during the 3rd quarter valued at $2,057,000. Institutional investors and hedge funds own 66.35% of the company's stock.

Alphatec Stock Performance

Shares of NASDAQ ATEC traded up $0.04 during trading on Monday, hitting $9.67. The stock had a trading volume of 789,825 shares, compared to its average volume of 1,936,055. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $17.34. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The firm has a fifty day moving average of $7.55 and a two-hundred day moving average of $8.14.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Lake Street Capital decreased their price target on shares of Alphatec from $32.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, September 3rd. Canaccord Genuity Group restated a "buy" rating and set a $20.00 price target on shares of Alphatec in a research note on Friday, August 30th. Barclays boosted their price target on shares of Alphatec from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th. Needham & Company LLC restated a "buy" rating and set a $13.00 price target on shares of Alphatec in a research note on Thursday, October 31st. Finally, HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Alphatec in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.11.

About Alphatec

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.