Adage Capital Partners GP L.L.C. Sells 25,000 Shares of AtriCure, Inc. $ATRC

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in AtriCure, Inc. by 8.3% in Q1, ending with 275,000 shares valued at approximately $8.87 million.
• Significant institutional investment activity includes Nuveen LLC acquiring a stake valued at $30.67 million and Neuberger Berman Group LLC increasing their holdings by 26.3%.
• AtriCure's stock saw a 0.8% decline recently, with a market cap of $1.76 billion and an average analyst rating of "Buy".

Adage Capital Partners GP L.L.C. cut its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 275,000 shares of the medical device company's stock after selling 25,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.56% of AtriCure worth $8,872,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in shares of AtriCure during the 1st quarter worth about $7,468,000. Graham Capital Management L.P. increased its stake in shares of AtriCure by 113.9% during the 1st quarter. Graham Capital Management L.P. now owns 45,446 shares of the medical device company's stock worth $1,466,000 after purchasing an additional 24,197 shares during the last quarter. Paradigm Capital Management Inc. NY grew its stake in AtriCure by 14.7% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 123,100 shares of the medical device company's stock valued at $3,971,000 after buying an additional 15,800 shares during the last quarter. Panagora Asset Management Inc. grew its stake in AtriCure by 3.7% in the 1st quarter. Panagora Asset Management Inc. now owns 214,551 shares of the medical device company's stock valued at $6,921,000 after buying an additional 7,684 shares during the last quarter. Finally, Trexquant Investment LP raised its holdings in AtriCure by 180.6% in the 1st quarter. Trexquant Investment LP now owns 275,548 shares of the medical device company's stock valued at $8,889,000 after acquiring an additional 177,342 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AtriCure

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $36.58, for a total transaction of $91,450.00. Following the completion of the sale, the insider owned 71,872 shares of the company's stock, valued at approximately $2,629,077.76. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sven Wehrwein sold 5,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $37.00, for a total transaction of $185,000.00. Following the sale, the director directly owned 34,374 shares of the company's stock, valued at approximately $1,271,838. This trade represents a 12.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,952 shares of company stock valued at $546,733. Company insiders own 3.50% of the company's stock.

AtriCure Stock Performance

Shares of NASDAQ:ATRC traded down $2.49 on Friday, reaching $35.07. 700,728 shares of the company's stock were exchanged, compared to its average volume of 376,526. The company has a fifty day moving average of $34.35 and a 200-day moving average of $33.53. AtriCure, Inc. has a twelve month low of $25.57 and a twelve month high of $43.11. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -45.54 and a beta of 1.62. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.13. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The company had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. The firm's quarterly revenue was up 17.1% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, research analysts predict that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC boosted their price objective on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, BTIG Research set a $54.00 price objective on AtriCure in a report on Wednesday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat, AtriCure presently has a consensus rating of "Buy" and an average price target of $50.89.

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.