Penn Capital Management Company LLC Has $14.09 Million Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Penn Capital Management Company LLC increased its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 17.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,535,182 shares of the medical technology company’s stock after purchasing an additional 228,933 shares during the period. Alphatec makes up about 1.4% of Penn Capital Management Company LLC’s portfolio, making the stock its 19th biggest holding. Penn Capital Management Company LLC’s holdings in Alphatec were worth $14,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Alphatec by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,312 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 7,770 shares in the last quarter. Rock Springs Capital Management LP bought a new stake in shares of Alphatec during the 4th quarter valued at approximately $1,836,000. Tower Research Capital LLC TRC increased its position in Alphatec by 99.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,948 shares of the medical technology company’s stock worth $165,000 after purchasing an additional 8,929 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Alphatec by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 63,274 shares of the medical technology company’s stock valued at $581,000 after purchasing an additional 3,719 shares during the last quarter. Finally, Altium Capital Management LLC acquired a new stake in Alphatec in the fourth quarter valued at approximately $2,429,000. 66.35% of the stock is owned by institutional investors.

Insider Activity at Alphatec

In other Alphatec news, COO Scott Lish sold 23,183 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $12.03, for a total transaction of $278,891.49. Following the completion of the sale, the chief operating officer now owns 844,494 shares in the company, valued at approximately $10,159,262.82. The trade was a 2.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Miles sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total transaction of $601,500.00. Following the completion of the transaction, the chief executive officer now directly owns 6,152,544 shares in the company, valued at $74,015,104.32. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,113 shares of company stock valued at $3,121,225 in the last three months. Corporate insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ATEC. Piper Sandler raised their price objective on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. StockNews.com upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Alphatec in a report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Finally, Barclays increased their price objective on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Alphatec Price Performance

Shares of ATEC opened at $11.21 on Thursday. The firm has a market cap of $1.62 billion, a PE ratio of -8.76 and a beta of 1.20. Alphatec Holdings, Inc. has a 52-week low of $4.88 and a 52-week high of $13.79. The business’s 50 day moving average price is $10.38 and its two-hundred day moving average price is $9.57. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The company had revenue of $176.79 million for the quarter, compared to the consensus estimate of $172.74 million. On average, equities analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Alphatec Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.