Alphatec Holdings, Inc. $ATEC Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC lessened its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 9.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,562,431 shares of the medical technology company’s stock after selling 162,819 shares during the quarter. Alphatec comprises 1.7% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 3rd biggest holding. Penn Capital Management Company LLC’s holdings in Alphatec were worth $22,769,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Alphatec by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock valued at $99,091,000 after acquiring an additional 158,295 shares during the period. Assenagon Asset Management S.A. raised its position in Alphatec by 7,083.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock valued at $10,911,000 after purchasing an additional 739,982 shares during the last quarter. American Century Companies Inc. boosted its stake in Alphatec by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 6,177,161 shares of the medical technology company’s stock worth $68,567,000 after purchasing an additional 347,130 shares during the period. Lisanti Capital Growth LLC purchased a new position in Alphatec during the 3rd quarter worth $3,305,000. Finally, SG Americas Securities LLC purchased a new position in Alphatec during the 3rd quarter worth $1,115,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Insider Activity at Alphatec

In other news, EVP David Sponsel sold 163,452 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total transaction of $2,046,419.04. Following the completion of the transaction, the executive vice president directly owned 504,932 shares of the company’s stock, valued at approximately $6,321,748.64. This represents a 24.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the sale, the chief executive officer directly owned 5,135,398 shares of the company’s stock, valued at $107,894,711.98. This represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 826,972 shares of company stock worth $11,285,386 in the last three months. 22.80% of the stock is currently owned by corporate insiders.

Alphatec Stock Up 3.6%

Shares of NASDAQ:ATEC opened at $13.05 on Wednesday. Alphatec Holdings, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $23.29. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35. The firm’s 50-day simple moving average is $14.76 and its 200-day simple moving average is $16.84. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -13.74 and a beta of 1.02.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $212.93 million for the quarter, compared to analysts’ expectations of $212.67 million. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.23) earnings per share. As a group, equities research analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Analyst Ratings Changes

ATEC has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Alphatec in a report on Monday, January 12th. Loop Capital set a $25.00 price target on Alphatec in a report on Wednesday, December 10th. HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Alphatec in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alphatec in a research note on Monday, December 29th. Finally, Morgan Stanley set a $23.00 price objective on Alphatec in a research report on Tuesday, December 2nd. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and a consensus target price of $22.82.

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.