Dark Forest Capital Management LP Takes $769,000 Position in AtriCure, Inc. (NASDAQ:ATRC)

Dark Forest Capital Management LP acquired a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 25,164 shares of the medical device company's stock, valued at approximately $769,000. Dark Forest Capital Management LP owned 0.05% of AtriCure at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in shares of AtriCure in the 4th quarter worth approximately $60,000. Venturi Wealth Management LLC boosted its position in AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after acquiring an additional 2,100 shares during the last quarter. KBC Group NV grew its position in shares of AtriCure by 65.3% in the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock valued at $72,000 after purchasing an additional 932 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of AtriCure by 232.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company's stock worth $88,000 after acquiring an additional 2,008 shares during the period. Finally, R Squared Ltd acquired a new position in shares of AtriCure in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Stock Performance

ATRC traded down $5.12 during trading hours on Wednesday, hitting $29.53. The company's stock had a trading volume of 1,017,627 shares, compared to its average volume of 659,343. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $43.11. The company has a 50-day simple moving average of $34.12 and a 200 day simple moving average of $34.70. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.46 billion, a PE ratio of -31.04 and a beta of 1.65.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The business had revenue of $123.62 million during the quarter, compared to analysts' expectations of $122.92 million. During the same period last year, the firm posted ($0.28) earnings per share. The business's revenue was up 13.5% on a year-over-year basis. As a group, sell-side analysts expect that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Transactions at AtriCure

In other news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

ATRC has been the subject of a number of research reports. BTIG Research reiterated a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Piper Sandler increased their price target on AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Stifel Nicolaus raised their price objective on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price objective on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, UBS Group dropped their price objective on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, AtriCure currently has an average rating of "Moderate Buy" and an average target price of $50.67.

AtriCure Profile

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, 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 enables users to make longer linear lines of ablation.