AtriCure, Inc. (NASDAQ:ATRC) is First Light Asset Management LLC's 4th Largest Position

First Light Asset Management LLC lifted its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,969,221 shares of the medical device company's stock after acquiring an additional 103,685 shares during the period. AtriCure makes up 5.7% of First Light Asset Management LLC's holdings, making the stock its 4th biggest holding. First Light Asset Management LLC owned 4.04% of AtriCure worth $60,179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Silver Oak Securities Incorporated purchased a new stake in shares of AtriCure in the fourth quarter valued at about $220,000. JPMorgan Chase & Co. grew its position in AtriCure by 43.1% in the 4th quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company's stock worth $11,160,000 after purchasing an additional 110,039 shares in the last quarter. Calamos Advisors LLC increased its stake in AtriCure by 27.9% in the 4th quarter. Calamos Advisors LLC now owns 110,671 shares of the medical device company's stock valued at $3,382,000 after buying an additional 24,147 shares during the last quarter. M&T Bank Corp bought a new position in shares of AtriCure during the 4th quarter worth approximately $208,000. Finally, Sei Investments Co. boosted its stake in shares of AtriCure by 6.1% in the 4th quarter. Sei Investments Co. now owns 107,290 shares of the medical device company's stock worth $3,279,000 after buying an additional 6,152 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

ATRC has been the topic of a number of recent analyst reports. Needham & Company LLC dropped their price target on AtriCure from $51.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday. Oppenheimer lifted their target price on AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. BTIG Research reaffirmed a "buy" rating on shares of AtriCure in a research report on Thursday, March 27th. Finally, Piper Sandler increased their target price on shares of AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Insider Activity

In related news, Director Karen Prange sold 6,100 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares in the company, valued at $679,603.36. The trade was a 25.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.50% of the company's stock.

AtriCure Price Performance

Shares of AtriCure stock traded up $0.73 during trading on Friday, hitting $30.02. The stock had a trading volume of 855,143 shares, compared to its average volume of 655,816. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -31.60 and a beta of 1.65. AtriCure, Inc. has a 12 month low of $18.94 and a 12 month high of $43.11. The business's 50-day moving average is $33.57 and its 200 day moving average is $34.68. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13.

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

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.