Vanguard Personalized Indexing Management LLC decreased its position in shares of AtriCure, Inc. (NASDAQ:ATRC – Free Report) by 57.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,889 shares of the medical device company’s stock after selling 7,935 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in AtriCure were worth $244,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of AtriCure by 47.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,975 shares of the medical device company’s stock worth $392,000 after acquiring an additional 1,931 shares during the period. AlphaCrest Capital Management LLC bought a new position in shares of AtriCure during the first quarter worth about $343,000. MetLife Investment Management LLC raised its position in AtriCure by 54.8% in the 1st quarter. MetLife Investment Management LLC now owns 24,141 shares of the medical device company’s stock valued at $1,585,000 after buying an additional 8,549 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AtriCure by 7.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 717,125 shares of the medical device company’s stock valued at $47,092,000 after acquiring an additional 46,705 shares in the last quarter. Finally, Sei Investments Co. boosted its position in AtriCure by 0.5% during the 1st quarter. Sei Investments Co. now owns 94,103 shares of the medical device company’s stock worth $6,182,000 after acquiring an additional 461 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on ATRC. StockNews.com began coverage on shares of AtriCure in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Stifel Nicolaus lifted their target price on AtriCure from $50.00 to $59.00 in a research report on Wednesday, July 26th. BTIG Research boosted their price target on AtriCure from $56.00 to $68.00 in a research report on Wednesday, July 26th. Piper Sandler lifted their price target on AtriCure from $55.00 to $65.00 in a report on Wednesday, July 26th. Finally, Needham & Company LLC raised their price objective on AtriCure from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.80.
AtriCure Stock Performance
NASDAQ:ATRC opened at $45.71 on Friday. The stock has a 50 day simple moving average of $50.94 and a 200 day simple moving average of $46.13. The stock has a market cap of $2.17 billion, a P/E ratio of -74.93 and a beta of 1.36. AtriCure, Inc. has a 1-year low of $32.51 and a 1-year high of $59.61. The company has a current ratio of 3.33, a quick ratio of 2.56 and a debt-to-equity ratio of 0.12.
AtriCure (NASDAQ:ATRC – Get Free Report) last posted its earnings results on Tuesday, July 25th. The medical device company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.15. AtriCure had a negative return on equity of 7.11% and a negative net margin of 7.67%. The company had revenue of $100.92 million during the quarter, compared to the consensus estimate of $97.55 million. During the same quarter last year, the firm earned ($0.32) earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. Research analysts anticipate that AtriCure, Inc. will post -0.93 earnings per share for the current year.
Insiders Place Their Bets
In other news, insider Karl S. Dahlquist sold 1,422 shares of AtriCure stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $47.03, for a total value of $66,876.66. Following the completion of the sale, the insider now directly owns 34,897 shares in the company, valued at $1,641,205.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AtriCure news, insider Karl S. Dahlquist sold 1,422 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $47.03, for a total transaction of $66,876.66. Following the transaction, the insider now owns 34,897 shares in the company, valued at approximately $1,641,205.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Karl S. Dahlquist sold 3,417 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $57.09, for a total value of $195,076.53. Following the sale, the insider now owns 32,037 shares of the company’s stock, valued at $1,828,992.33. The disclosure for this sale can be found here. Insiders have sold a total of 5,552 shares of company stock worth $296,099 in the last quarter. Corporate insiders own 3.00% of the company’s stock.
About AtriCure
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation and ablate cardiac tissue with the same device; and the Coolrail device, which enable users to make longer linear lines of ablation.
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