Procyon Advisors LLC Reduces Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Procyon Advisors LLC lessened its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 43.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,812 shares of the medical technology company's stock after selling 25,118 shares during the period. Procyon Advisors LLC's holdings in Alphatec were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ATEC. XTX Topco Ltd purchased a new stake in Alphatec during the third quarter worth $69,000. Net Worth Advisory Group purchased a new stake in shares of Alphatec during the 3rd quarter worth about $76,000. Van ECK Associates Corp grew its position in shares of Alphatec by 57.0% during the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company's stock valued at $99,000 after acquiring an additional 6,998 shares during the period. Tempus Wealth Planning LLC purchased a new position in shares of Alphatec in the 3rd quarter valued at about $107,000. Finally, Atria Investments Inc raised its holdings in Alphatec by 8.0% in the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company's stock worth $109,000 after purchasing an additional 1,460 shares during the period. Institutional investors and hedge funds own 66.35% of the company's stock.

Alphatec Trading Up 2.5 %

ATEC stock traded up $0.28 during mid-day trading on Monday, hitting $11.57. 1,090,431 shares of the company were exchanged, compared to its average volume of 1,056,921. Alphatec Holdings, Inc. has a 12-month low of $4.88 and a 12-month high of $17.34. The firm has a market capitalization of $1.64 billion, a P/E ratio of -9.04 and a beta of 1.41. The business has a fifty day simple moving average of $9.67 and a 200-day simple moving average of $8.03. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ATEC shares. Needham & Company LLC lifted their price target on shares of Alphatec from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Barclays boosted their price objective on Alphatec from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $17.44.

Insider Transactions at Alphatec

In related news, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction on Monday, January 13th. The stock was sold at an average price of $10.71, for a total value of $624,210.93. Following the completion of the transaction, the executive vice president now directly owns 502,311 shares in the company, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 22.80% of the company's stock.

Alphatec Company 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.