Alphatec Holdings, Inc. $ATEC Stake Cut by Penn Capital Management Company LLC

Penn Capital Management Company LLC lowered its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 31.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,073,090 shares of the medical technology company’s stock after selling 489,341 shares during the quarter. Alphatec makes up about 1.8% of Penn Capital Management Company LLC’s holdings, making the stock its biggest position. Penn Capital Management Company LLC’s holdings in Alphatec were worth $22,629,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lisanti Capital Growth LLC lifted its stake in Alphatec by 63.8% in the 4th quarter. Lisanti Capital Growth LLC now owns 372,407 shares of the medical technology company’s stock valued at $7,835,000 after buying an additional 145,120 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in Alphatec by 983.5% in the 4th quarter. Jefferies Financial Group Inc. now owns 595,937 shares of the medical technology company’s stock valued at $12,539,000 after buying an additional 540,937 shares in the last quarter. Legato Capital Management LLC lifted its stake in Alphatec by 162.4% in the 4th quarter. Legato Capital Management LLC now owns 102,945 shares of the medical technology company’s stock valued at $2,166,000 after buying an additional 63,715 shares in the last quarter. ProShare Advisors LLC lifted its stake in Alphatec by 8.2% in the 4th quarter. ProShare Advisors LLC now owns 21,470 shares of the medical technology company’s stock valued at $452,000 after buying an additional 1,633 shares in the last quarter. Finally, Versor Investments LP lifted its stake in Alphatec by 8.1% in the 4th quarter. Versor Investments LP now owns 30,584 shares of the medical technology company’s stock valued at $643,000 after buying an additional 2,284 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group reduced their target price on Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. TD Cowen cut their price target on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Needham & Company LLC cut their price target on Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Lake Street Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Alphatec in a report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alphatec presently has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Alphatec Trading Down 2.5%

Shares of ATEC opened at $8.06 on Wednesday. The stock has a fifty day moving average of $10.15 and a two-hundred day moving average of $15.01. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. The company has a market capitalization of $1.24 billion, a PE ratio of -9.83 and a beta of 0.96. Alphatec Holdings, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $23.29.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.21). The business had revenue of $192.11 million during the quarter, compared to analyst estimates of $197.51 million. Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) earnings per share. As a group, analysts forecast that Alphatec Holdings, Inc. will post -0.44 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the completion of the sale, the general counsel directly owned 559,459 shares in the company, valued at $6,987,642.91. This represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Sponsel sold 163,452 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total value 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. The trade was a 24.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 629,189 shares of company stock valued at $7,801,589. Insiders own 13.48% of the company’s stock.

Alphatec 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.