Alphatec Holdings, Inc. $ATEC Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 21.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,055,100 shares of the medical technology company’s stock after acquiring an additional 184,969 shares during the period. Renaissance Technologies LLC’s holdings in Alphatec were worth $11,479,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ATEC. Arrowstreet Capital Limited Partnership raised its holdings in Alphatec by 102.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 507,017 shares of the medical technology company’s stock worth $5,516,000 after purchasing an additional 256,342 shares in the last quarter. Sei Investments Co. boosted its stake in Alphatec by 62.2% during the 1st quarter. Sei Investments Co. now owns 598,003 shares of the medical technology company’s stock valued at $6,506,000 after purchasing an additional 229,238 shares in the last quarter. Lido Advisors LLC acquired a new position in shares of Alphatec during the 1st quarter valued at $115,000. State of Wyoming increased its position in shares of Alphatec by 709.9% during the 1st quarter. State of Wyoming now owns 14,302 shares of the medical technology company’s stock valued at $156,000 after purchasing an additional 12,536 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Alphatec by 43.9% in the 1st quarter. Cetera Investment Advisers now owns 35,468 shares of the medical technology company’s stock worth $386,000 after buying an additional 10,818 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

Insider Buying and Selling at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, the director owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is currently owned by company insiders.

Alphatec Stock Performance

Shares of NASDAQ ATEC opened at $9.52 on Friday. The stock’s fifty day simple moving average is $8.62 and its 200 day simple moving average is $10.96. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -11.61 and a beta of 0.85. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. Alphatec Holdings, Inc. has a 52-week low of $6.82 and a 52-week high of $23.29.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ATEC. Weiss Ratings upgraded Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $24.00 target price on shares of Alphatec in a report on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a research report on Wednesday, May 6th. Needham & Company LLC cut their price target on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, BMO Capital Markets began coverage on shares of Alphatec in a research report on Wednesday, July 8th. They set an “outperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.13.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.