BlackRock Fund Advisors recently announced the acquisition of new stake in Alphatec Holdings Inc. (NASDAQ:ATEC). The institutional investor has increased its shareholding in the Healthcare company by 1.59% to 4.45 million shares with purchase of 69700.0 shares. This fresh investment now brings its stake to 4.00% valued currently at $64.21 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.16 million to 3.49 million shares. And Millennium Management LLC has lifted its position by 103.94% or 1.41 million shares – to 2.77 million shares.
With over 1.51 million Alphatec Holdings Inc. (ATEC) shares trading Tuesday and a closing price of $14.97 on the day, the dollar volume was approximately $22.63 million. The shares have shown a positive half year performance of 48.07% and its price on 05/23/23 lost nearly -4.04%. Currently, there are 109.75M common shares owned by the public and among those 68.08M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for ATEC have a consensus price objective of $19.72. The analysts have set the share’s price value over the next 12 months at a high of $23.00 and a low of $17.00. The average price target is 24.09% above its recent price level and an upside to the estimated low will see the stock gain 11.94% over that period. But an upside of 34.91% will see the stock hit the forecast high price target while median target price for the stock is $19.00.
Insiders at the company have transacted a total of 95 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 9,797,827 shares. Insider sales of the common stock occurred on 58 occasions, with total insider shares sold totaling 4,478,664 shares.
The top 3 mutual fund holders in Alphatec Holdings Inc. are Janus Henderson Venture Fund, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. Janus Henderson Venture Fund owns 1.78 million shares of the company’s stock, all valued at over $25.66 million. Vanguard Total Stock Market ETF sold -0.15 million shares to see its total holdings shrink to 1.76 million shares valued at over $25.48 million and representing 1.59% of the shares outstanding. iShares Russell 2000 ETF sold 22480.0 shares to bring its total holdings to over 1.54 million shares at a value of $22.18 million. iShares Russell 2000 ETF now owns shares totaling to 1.38% of the shares outstanding.
However, the script later moved the day high at 16.06, down -4.04%. The company’s stock has a 5-day price change of -1.45% and 4.39% over the past three months. ATEC shares are trading 21.21% year to date (YTD), with the 12-month market performance up to 92.91% higher. It has a 12-month low price of $5.73 and touched a high of $17.13 over the same period. ATEC has an average intraday trading volume of 1.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.33%, -2.88%, and 25.65% respectively.
Institutional ownership of Alphatec Holdings Inc. (NASDAQ: ATEC) shares accounts for 51.00% of the company’s 109.75M shares outstanding. Mutual fund holders own 31.97%, while other institutional holders and individual stakeholders account for 44.55% and 18.05% respectively.
It has a market capitalization of $1.79B and a beta (3y monthly) value of 1.25. The earnings-per-share (ttm) stands at -$1.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.79% over the week and 4.46% over the month.
Analysts forecast that Alphatec Holdings Inc. (ATEC) will achieve an EPS of -$0.28 for the current quarter, -$0.27 for the next quarter and -$0.8 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.36 while analysts give the company a high EPS estimate of -$0.21. Comparatively, EPS for the current quarter was -$0.36 a year ago. Earnings per share for the fiscal year are expected to increase by 1.90%, and 30.40% over the next financial year. EPS should grow at an annualized rate of 12.00% over the next five years, compared to -32.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Alphatec Holdings Inc. (ATEC) as a “Strong Buy” at a consensus score of 1.70. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 0 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
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