Renaissance Technologies LLC Acquires 150,500 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Renaissance Technologies LLC raised its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 106.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 292,100 shares of the medical technology company's stock after acquiring an additional 150,500 shares during the period. Renaissance Technologies LLC owned approximately 0.21% of Alphatec worth $2,681,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Alphatec in the 4th quarter worth about $29,000. Nisa Investment Advisors LLC raised its stake in shares of Alphatec by 973.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock worth $43,000 after purchasing an additional 4,234 shares during the last quarter. Newton One Investments LLC bought a new position in shares of Alphatec in the fourth quarter valued at approximately $50,000. AlphaQuest LLC bought a new position in shares of Alphatec in the fourth quarter valued at approximately $80,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Alphatec during the fourth quarter valued at approximately $106,000. Institutional investors own 66.35% of the company's stock.

Alphatec Stock Performance

ATEC traded down $0.38 during trading hours on Monday, hitting $11.13. The stock had a trading volume of 1,658,537 shares, compared to its average volume of 2,050,465. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $13.79. The company's fifty day simple moving average is $10.40 and its 200 day simple moving average is $9.72. The stock has a market cap of $1.60 billion, a PE ratio of -8.70 and a beta of 1.20. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The business had revenue of $176.79 million during the quarter, compared to analysts' expectations of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. Equities analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP David Sponsel sold 33,732 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $10.83, for a total transaction of $365,317.56. Following the sale, the executive vice president now owns 668,977 shares of the company's stock, valued at approximately $7,245,020.91. This represents a 4.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 43,459 shares of Alphatec stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $11.95, for a total value of $519,335.05. Following the transaction, the chief executive officer now directly owns 6,065,772 shares of the company's stock, valued at $72,485,975.40. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 272,113 shares of company stock worth $3,121,225 over the last 90 days. Corporate insiders own 22.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ATEC. Barclays lifted their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Alphatec in a research report on Monday, April 14th. StockNews.com upgraded Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Piper Sandler increased their price target on Alphatec from $12.00 to $13.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.67.

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.