AtriCure, Inc. (NASDAQ:ATRC) Shares Sold by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP lowered its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 83.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 212,982 shares of the medical device company's stock after selling 1,082,724 shares during the quarter. Divisadero Street Capital Management LP owned 0.44% of AtriCure worth $6,509,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ATRC. Franklin Resources Inc. lifted its stake in shares of AtriCure by 0.9% in the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock valued at $1,569,000 after purchasing an additional 484 shares during the period. Blue Trust Inc. boosted its stake in shares of AtriCure by 1.8% during the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after acquiring an additional 265 shares in the last quarter. KBC Group NV grew its holdings in shares of AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock worth $72,000 after acquiring an additional 932 shares during the period. R Squared Ltd acquired a new stake in shares of AtriCure in the 4th quarter worth approximately $89,000. Finally, Heck Capital Advisors LLC purchased a new position in AtriCure in the 4th quarter valued at approximately $60,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ATRC. Piper Sandler raised their target price on shares of AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. JMP Securities restated a "market outperform" rating and set a $60.00 price objective on shares of AtriCure in a research report on Wednesday, April 30th. Stifel Nicolaus upped their target price on AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Canaccord Genuity Group cut their price target on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, UBS Group decreased their price objective on AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, AtriCure presently has a consensus rating of "Moderate Buy" and an average price target of $50.67.

AtriCure Trading Down 0.6 %

NASDAQ ATRC traded down $0.19 during mid-day trading on Friday, hitting $30.99. The company's stock had a trading volume of 625,247 shares, compared to its average volume of 656,420. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $43.11. The stock's fifty day simple moving average is $32.71 and its two-hundred day simple moving average is $34.78. The firm has a market capitalization of $1.53 billion, a P/E ratio of -32.62 and a beta of 1.57.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share 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 for the quarter, compared to analyst estimates of $122.92 million. During the same quarter in the previous year, the business posted ($0.28) EPS. The business's quarterly revenue was up 13.5% on a year-over-year basis. Research analysts expect that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Activity

In other AtriCure news, Director Karen Prange sold 6,100 shares of the company'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 transaction, the director now owns 17,828 shares in the company, valued at $679,603.36. This represents a 25.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.50% of the company's stock.

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.