Alphatec Holdings, Inc. $ATEC Stock: Penn Capital Management Company LLC Increases Holdings

Penn Capital Management Company LLC grew its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 18.9% in the third quarter, Holdings Channel reports. The fund owned 1,769,971 shares of the medical technology company’s stock after acquiring an additional 281,911 shares during the quarter. Alphatec accounts for 1.3% of Penn Capital Management Company LLC’s portfolio, making the stock its 28th largest holding. Penn Capital Management Company LLC’s holdings in Alphatec were worth $18,299,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC boosted its holdings in shares of Alphatec by 841.5% during the 3rd quarter. Sterling Capital Management LLC now owns 4,105 shares of the medical technology company’s stock valued at $42,000 after acquiring an additional 3,669 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Alphatec in the 2nd quarter worth about $52,000. Allworth Financial LP increased its holdings in Alphatec by 82.6% in the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock worth $58,000 after purchasing an additional 3,015 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in Alphatec in the 3rd quarter worth about $112,000. Finally, Lido Advisors LLC bought a new position in Alphatec in the first quarter valued at about $115,000. 66.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ATEC shares. TD Cowen cut their price target on Alphatec from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Stephens assumed coverage on Alphatec in a report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target on the stock. Needham & Company LLC lowered their price objective on Alphatec from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a report on Friday, October 30th. Finally, Wall Street Zen lowered shares of Alphatec from a “buy” rating to a “hold” rating in a report on Sunday, October 11th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

Alphatec Stock Performance

Shares of NASDAQ:ATEC opened at $7.38 on Tuesday. Alphatec Holdings, Inc. has a 52 week low of $6.81 and a 52 week high of $23.29. The firm has a market cap of $1.14 billion, a PE ratio of -13.42 and a beta of 0.88. The firm’s fifty day moving average is $9.92 and its 200-day moving average is $10.34.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Thursday, October 29th. The medical technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $221.17 million during the quarter, compared to analyst estimates of $225.16 million. Alphatec had a negative net margin of 10.35% and a negative return on equity of 6,752.24%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. Sell-side analysts forecast that Alphatec Holdings, Inc. will post -0.40 EPS for the current year.

Insider Activity

In related news, CEO Patrick Miles purchased 115,000 shares of Alphatec stock in a transaction on Thursday, September 10th. The shares were purchased at an average price of $8.81 per share, for a total transaction of $1,013,150.00. Following the transaction, the chief executive officer owned 5,893,551 shares of the company’s stock, valued at approximately $51,922,184.31. This represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Demski purchased 60,000 shares of Alphatec stock in a transaction on Friday, October 30th. The stock was bought at an average price of $6.81 per share, for a total transaction of $408,600.00. Following the transaction, the director directly owned 491,635 shares in the company, valued at approximately $3,348,034.35. The trade was a 13.90% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.48% of the stock is currently owned by insiders.

Alphatec Company Profile

Alphatec Holdings, Inc is a medical technology company focused on developing and marketing products for spine surgery. Its offerings are intended to support the surgical treatment of spinal disorders and include implants, biologics, instruments and access systems, along with technologies designed to assist surgeons during procedures.

The company’s product portfolio includes solutions for several surgical approaches and stages of spine care, including systems for planning, accessing and instrumenting the spine.