Alphatec Holdings Inc. [NASDAQ: ATEC] loss -9.13% on the last trading session, reaching $13.84 price per share at the time. The company report on August 6, 2021 that Alphatec Holdings, Inc. Prices Upsized $275.0 Million Convertible Senior Notes Offering.
Alphatec Holdings, Inc. (Nasdaq: ATEC) announced the pricing of its offering of $275,000,000 aggregate principal amount of 0.75% convertible senior notes due 2026 (the “notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $250,000,000 aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on August 10, 2021, subject to customary closing conditions. Alphatec also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $41,250,000 principal amount of notes.
The notes will be senior, unsecured obligations of Alphatec and will accrue interest at a rate of 0.75% per annum, payable semi-annually in arrears on February 1 and August 1 of each year, beginning on February 1, 2022. The notes will mature on August 1, 2026, unless earlier repurchased, redeemed or converted. Before February 2, 2026, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after February 2, 2026, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Alphatec will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at Alphatec’s election. The initial conversion rate is 54.5316 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $18.34 per share of common stock. The initial conversion price represents a premium of approximately 32.5% over the last reported sale price of Alphatec’s common stock on The Nasdaq Global Select Market of $13.84 per share on August 5, 2021. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.
Alphatec Holdings Inc. represents 87.22 million in outstanding shares, while the company has a total market value of $1.34 billion with the latest information. ATEC stock price has been found in the range of $13.595 to $14.55.
If compared to the average trading volume of 520.85K shares, ATEC reached a trading volume of 2816161 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Alphatec Holdings Inc. [ATEC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATEC shares is $21.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATEC stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cowen have made an estimate for Alphatec Holdings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 04, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price from $16 to $19. The new note on the price target was released on March 05, 2021, representing the official price target for Alphatec Holdings Inc. stock. Previously, the target price had yet another raise from $12 to $16, while H.C. Wainwright kept a Buy rating on ATEC stock.
The Average True Range (ATR) for Alphatec Holdings Inc. is set at 0.77, with the Price to Sales ratio for ATEC stock in the period of the last 12 months amounting to 8.44. The Price to Book ratio for the last quarter was 5.03, with the Price to Cash per share for the same quarter was set at 1.97.
Trading performance analysis for ATEC stock
Alphatec Holdings Inc. [ATEC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.53. With this latest performance, ATEC shares dropped by -4.62% in over the last four-week period, additionally sinking by -9.01% over the last 6 months – not to mention a rise of 149.37% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATEC stock in for the last two-week period is set at 43.54, with the RSI for the last a single of trading hit 41.44, and the three-weeks RSI is set at 44.64 for Alphatec Holdings Inc. [ATEC]. The present Moving Average for the last 50 days of trading for this stock 14.68, while it was recorded at 14.59 for the last single week of trading, and 14.29 for the last 200 days.
Alphatec Holdings Inc. [ATEC]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Alphatec Holdings Inc. [ATEC] shares currently have an operating margin of -31.82 and a Gross Margin at +63.20. Alphatec Holdings Inc.’s Net Margin is presently recorded at -54.53.
Return on Total Capital for ATEC is now -28.01, given the latest momentum, and Return on Invested Capital for the company is -49.04. Return on Equity for this stock declined to -68.78, with Return on Assets sitting at -35.89. When it comes to the capital structure of this company, Alphatec Holdings Inc. [ATEC] has a Total Debt to Total Equity ratio set at 27.41. Additionally, ATEC Total Debt to Total Capital is recorded at 21.51, with Total Debt to Total Assets ending up at 16.27. Long-Term Debt to Equity for the company is recorded at 28.44, with the Long-Term Debt to Total Capital now at 18.98.
Reflecting on the efficiency of the workforce at the company, Alphatec Holdings Inc. [ATEC] managed to generate an average of -$266,872 per employee. Receivables Turnover for the company is 7.11 with a Total Asset Turnover recorded at a value of 0.66.Alphatec Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 4.00.
Alphatec Holdings Inc. [ATEC]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATEC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Alphatec Holdings Inc. go to 12.00%.
An analysis of insider ownership at Alphatec Holdings Inc. [ATEC]
There are presently around $620 million, or 50.00% of ATEC stock, in the hands of institutional investors. The top three institutional holders of ATEC stocks are: BLACKROCK INC. with ownership of 4,372,095, which is approximately 11.482% of the company’s market cap and around 11.60% of the total institutional ownership; DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C), holding 3,201,916 shares of the stock with an approximate value of $44.31 million in ATEC stocks shares; and VANGUARD GROUP INC, currently with $36.42 million in ATEC stock with ownership of nearly -5.766% of the company’s market capitalization.
Positions in Alphatec Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 65 institutional holders increased their position in Alphatec Holdings Inc. [NASDAQ:ATEC] by around 10,708,688 shares. Additionally, 70 investors decreased positions by around 6,581,712 shares, while 33 investors held positions by with 27,511,556 shares. The mentioned changes placed institutional holdings at 44,801,956 shares, according to the latest SEC report filing. ATEC stock had 20 new institutional investments in for a total of 4,728,075 shares, while 11 institutional investors sold positions of 1,256,492 shares during the same period.