Alphatec Holdings Inc (NASDAQ: ATEC) stock fell -3.34% on Friday to $11.00 against a previous-day closing price of $11.38. With 2.76 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.86 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $11.65 whereas the lowest price it dropped to was $10.91. The 52-week range on ATEC shows that it touched its highest point at $19.14 and its lowest point at $8.66 during that stretch. It currently has a 1-year price target of $21.65. Beta for the stock currently stands at 1.40.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ATEC was up-trending over the past week, with a rise of 7.84%, but this was down by -7.17% over a month. Three-month performance dropped to -23.66% while six-month performance fell -27.46%. The stock gained 6.08% in the past year, while it has lost -10.93% so far this year. A look at the trailing 12-month EPS for ATEC yields -1.51 with Next year EPS estimates of -0.26. For the next quarter, that number is -0.07. This implies an EPS growth rate of 32.72% for this year and 38.19% for next year. EPS is expected to grow by 12.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -52.34%.
Float and Shares Shorts:
At present, 106.64 million ATEC shares are outstanding with a float of 91.95 million shares on hand for trading. On Oct 30, 2023, short shares totaled 11.59 million, which was 8.50% higher than short shares on Sep 28, 2023. In addition to Mr. Patrick S. Miles as the firm’s Executive Chairman, CEO & President, Mr. J. Todd Koning serves as its Executive VP & CFO.
Through their ownership of 52.71% of ATEC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 35.31% of ATEC, in contrast to 32.67% held by mutual funds. Shares owned by individuals account for 20.82%. As the largest shareholder in ATEC with 4.24% of the stake, Millennium Management LLC holds 5,709,736 shares worth 5,709,736. A second-largest stockholder of ATEC, BlackRock Fund Advisors, holds 4,990,574 shares, controlling over 3.71% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in ATEC, holding 4,449,691 shares or 3.31% stake. With a 2.19% stake in ATEC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,945,236 shares are owned by the mutual fund manager. The Alger Funds – Small Cap Focus Fun, which owns about 1.54% of ATEC stock, is the second-largest Mutual Fund holder. It holds 2,078,399 shares valued at 19.08 million. iShares Russell 2000 ETF holds 1.39% of the stake in ATEC, owning 1,874,763 shares worth 17.21 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ATEC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ATEC analysts setting a high price target of $32.00 and a low target of $16.00, the average target price over the next 12 months is $21.65. Based on these targets, ATEC could surge 190.91% to reach the target high and rise by 45.45% to reach the target low. Reaching the average price target will result in a growth of 96.82% from current levels.
Summary of Insider Activity:
Insiders traded ATEC stock several times over the past three months with 0 Buys and 9 Sells. In these transactions, 0 shares were bought while 412,575 shares were sold. The number of buy transactions has increased to 47 while that of sell transactions has risen to 62 over the past year. The total number of shares bought during that period was 7,514,688 while 5,220,952 shares were sold.