5 Small-Cap Stocks to Buy According to Billionaire Steve Cohen

3. Alphatec Holdings, Inc. (NASDAQ:ATEC)

Number of Hedge Fund Holders: 24

Market Cap as of January 9: $1.12 billion

Alphatec Holdings, Inc. (NASDAQ:ATEC), a medical technology company, is one of the small-cap stocks in Steve Cohen’s portfolio in Q3 2021. Point72 Asset Management increased its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 946% between June and September. The total value of Cohen’s stake in the California-based company is $37.3 million. 

Alphatec Holdings, Inc. (NASDAQ:ATEC) develops and manufactures advanced technologies and systems used in spinal surgery. Alphatec Holdings, Inc. (NASDAQ:ATEC), founded in 1990, is one of the medical device companies capitalizing on the $6.7 billion spinal fusion device market in the United States. 

The company’s third-quarter revenue grew 53% year on year to $63 million. Alphatec Holdings, Inc. (NASDAQ:ATEC) provided a positive revenue outlook for fiscal 2021 of approximately $235 million, representing a 62% increase.

At the end of September 2021, 24 funds out of the 867 tracked by Insider Monkey had stakes in Alphatec Holdings, Inc. (NASDAQ:ATEC), up from 18 in the previous quarter. Deerfield Management is the largest shareholder of Alphatec Holdings, Inc. (NASDAQ:ATEC) as of Q3 2021, owning 3.59 million shares of the medical device company. The total value of this stake is $43.8 million.