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

Penn Capital Management Company LLC reduced its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,562,431 shares of the medical technology company’s stock after selling 162,819 shares during the period. Alphatec comprises 1.7% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 3rd largest holding. Penn Capital Management Company LLC owned approximately 1.05% of Alphatec worth $22,769,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new position in Alphatec in the 3rd quarter valued at approximately $180,000. Oberweis Asset Management Inc. purchased a new stake in shares of Alphatec during the third quarter worth $6,705,000. Dark Forest Capital Management LP increased its position in shares of Alphatec by 61.9% during the third quarter. Dark Forest Capital Management LP now owns 120,712 shares of the medical technology company’s stock worth $1,755,000 after acquiring an additional 46,167 shares during the period. XTX Topco Ltd acquired a new stake in shares of Alphatec in the third quarter valued at $1,300,000. Finally, Voleon Capital Management LP purchased a new position in Alphatec in the third quarter valued at $290,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Stock Up 3.6%

Shares of NASDAQ ATEC opened at $13.05 on Wednesday. The business has a 50-day moving average of $14.76 and a two-hundred day moving average of $16.84. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -13.74 and a beta of 1.02. Alphatec Holdings, Inc. has a 1 year low of $8.81 and a 1 year high of $23.29. The company has a debt-to-equity ratio of 40.35, a current ratio of 2.06 and a quick ratio of 1.28.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, February 24th. The medical technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $212.93 million during the quarter, compared to analysts’ expectations of $212.67 million. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) EPS. On average, analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In other Alphatec news, EVP David Sponsel sold 163,452 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total transaction of $2,046,419.04. Following the sale, the executive vice president owned 504,932 shares of the company’s stock, valued at approximately $6,321,748.64. This trade represents a 24.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott Lish sold 260,535 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $12.30, for a total transaction of $3,204,580.50. Following the sale, the chief operating officer owned 815,704 shares of the company’s stock, valued at $10,033,159.20. This represents a 24.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 826,972 shares of company stock valued at $11,285,386 in the last quarter. Company insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Loop Capital set a $25.00 target price on Alphatec in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alphatec in a research report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of Alphatec in a research note on Tuesday, January 27th. Stifel Nicolaus cut their target price on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Alphatec in a report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.82.

About Alphatec

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.