Millennium Management LLC has recently announced that it has increased stake in Alphatec Holdings Inc (NASDAQ:ATEC) by 83.67%. After grabbing 5.71 million shares, the institutional investor is now in possession of 2.6 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 4.24% having worth around $52.42 million. Moreover, BlackRock Fund Advisors increased its share by 0.21 million to have a control over 4.99 million shares. And The Vanguard Group, Inc. raised its holdings to 70031.0 shares by acquiring 4.45 million shares or 3.31% of the stake.
Alphatec Holdings Inc (ATEC) concluded trading on 12/14/23 at a closing price of $13.91, with 3.83 million shares of worth about $53.3 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -13.76% during that period and on Thursday the price saw a gain of about 3.81%. Currently the company’s common shares owned by public are about 106.64M shares, out of which, 92.50M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 112 times over the past 12 months. They bought 7,576,382 shares in 50 of the transactions. In 62 selling transactions, insiders dumped 5,378,448 shares.
Vanguard Total Stock Market ETF, Alger Funds – Small Cap Focus Fun, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Alphatec Holdings Inc Vanguard Total Stock Market ETF is currently holding 2.95 million shares of worth totaling $27.04 million. The company recently came buying 0.36 million shares which brought its stake up to 2.19% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 1.87 million shares, have now control over 1.39% of the stake in the company. It holds 18821.0 shares of worth $17.21 million.
However, the stock later moved at a day high price of 14.38, or with a gain of 3.81%. Stock saw a price change of 10.66% in past 5 days and over the past one month there was a price change of 30.86%. Year-to-date (YTD), ATEC shares are showing a performance of 12.63% which increased to 33.24% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.66 but also hit the highest price of $19.14 during that period. The average intraday trading volume for Alphatec Holdings Inc shares is 2.05 million. The stock is currently trading 14.89% above its 20-day simple moving average (SMA20), while that difference is up 22.54% for SMA50 and it goes to -4.11% lower than SMA200.
Millennium Management LLC acquired 5.71 million shares of Alphatec Holdings Inc having value of about $52.42 million. Data submitted at the U.S SEC by Millennium Management LLC revealed that the firm now holds 2.6 million shares in the company valued at close to $36181022.8, or have control over 83.67% stake in the company. Alphatec Holdings Inc (NASDAQ: ATEC) currently have 106.64M outstanding shares and institutions hold larger chunk of about 52.82% of that. Holding of mutual funds in the company is about 32.82% while other institutional holders and individual stake holders have control over 35.11% and 20.80% of the stake respectively.
The stock has a current market capitalization of $1.90B and its 3Y-monthly beta is at 1.40. It has posted earnings per share of -$1.51 in the same period. It has Quick Ratio of 1.37. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ATEC, volatility over the week remained 4.45% while standing at 4.24% over the month.
Analysts are in expectations that Alphatec Holdings Inc (ATEC) stock would likely to be making an EPS of -$0.25 in the current quarter, while forecast for next quarter EPS is -$0.24 and it is -$0.96 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.31 which is -$0.19 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.33 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 32.72% while it is estimated to increase by 38.19% in next year. EPS is likely to grow at an annualized rate of 12.00% for next 5-years, compared to annual growth of -52.34% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH MKM on October 20, 2023 offering a Buy rating for the stock and assigned a target price of $22 to it.
