Balyasny Asset Management L.P. Decreases Stock Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Balyasny Asset Management L.P. decreased its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 50.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,190 shares of the medical device company's stock after selling 78,730 shares during the period. Balyasny Asset Management L.P. owned approximately 0.16% of AtriCure worth $2,328,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ATRC. Hood River Capital Management LLC boosted its stake in AtriCure by 3.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock worth $89,349,000 after acquiring an additional 93,131 shares in the last quarter. First Light Asset Management LLC raised its holdings in shares of AtriCure by 5.6% during the fourth quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock valued at $60,179,000 after purchasing an additional 103,685 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in shares of AtriCure by 29.8% during the fourth quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company's stock valued at $22,999,000 after purchasing an additional 172,648 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AtriCure by 24.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock valued at $21,398,000 after purchasing an additional 136,015 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of AtriCure by 37.1% during the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company's stock valued at $18,922,000 after purchasing an additional 167,476 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

AtriCure Stock Performance

ATRC opened at $31.81 on Tuesday. The firm has a market cap of $1.57 billion, a P/E ratio of -33.48 and a beta of 1.57. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $43.11. The company has a 50 day simple moving average of $32.59 and a two-hundred day simple moving average of $34.85. 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 (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.11. The business had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The company's revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.28) earnings per share. Equities analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages have commented on ATRC. UBS Group reduced their target price on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a report on Wednesday, April 30th. Oppenheimer upped their target price on shares of AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Stifel Nicolaus upped their target price on shares of AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Piper Sandler upped 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. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.67.

AtriCure Company 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.

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