Procyon Advisors LLC Sells 25,118 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Procyon Advisors LLC trimmed its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 43.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,812 shares of the medical technology company’s stock after selling 25,118 shares during the quarter. Procyon Advisors LLC’s holdings in Alphatec were worth $301,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ATEC. Point72 Asset Management L.P. lifted its holdings in Alphatec by 65.2% during the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after acquiring an additional 1,260,137 shares in the last quarter. Magnetar Financial LLC bought a new stake in Alphatec during the second quarter worth about $10,957,000. Polar Asset Management Partners Inc. boosted its holdings in shares of Alphatec by 381.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,224 shares of the medical technology company’s stock valued at $3,454,000 after buying an additional 492,324 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Alphatec in the 3rd quarter valued at about $2,057,000. Finally, Marshall Wace LLP increased its holdings in shares of Alphatec by 44.7% during the 2nd quarter. Marshall Wace LLP now owns 1,099,692 shares of the medical technology company’s stock worth $11,492,000 after acquiring an additional 339,832 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ATEC. Needham & Company LLC raised their price target on Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. Finally, Barclays boosted their target price on shares of Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Insiders Place Their Bets

In other Alphatec news, EVP David Sponsel sold 58,283 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were 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 owns 502,311 shares of the company’s stock, valued at $5,379,750.81. This trade represents a 10.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 22.80% of the stock is currently owned by corporate insiders.

Alphatec Stock Up 2.5 %

Alphatec stock opened at $11.57 on Monday. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $17.34. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -9.04 and a beta of 1.41. The business’s 50-day moving average price is $9.67 and its 200 day moving average price is $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.

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.