Advisors Capital Management LLC Acquires 62,234 Shares of AtriCure, Inc. $ATRC

Key Points

• Advisors Capital Management LLC increased its stake in AtriCure, Inc. by 64.8%, acquiring an additional 62,234 shares in the first quarter, bringing its total ownership to 158,316 shares valued at approximately $5.1 million.
• Director Regina E. Groves and Director Sven Wehrwein sold shares of AtriCure stock, resulting in a 6.78% and 12.70% decrease in their respective ownership positions.
• AtriCure reported a 17.1% year-over-year increase in revenue for the last quarter, surpassing earnings expectations with $136.14 million in revenue and an EPS of ($0.02), better than the forecasted (−$0.15).

Advisors Capital Management LLC lifted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 64.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 158,316 shares of the medical device company's stock after purchasing an additional 62,234 shares during the period. Advisors Capital Management LLC owned about 0.32% of AtriCure worth $5,107,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ATRC. First Horizon Advisors Inc. lifted its stake in AtriCure by 135.3% during the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after purchasing an additional 832 shares during the last quarter. US Bancorp DE raised its holdings in AtriCure by 98.1% during the first quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after purchasing an additional 789 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in AtriCure during the fourth quarter worth approximately $60,000. State of Wyoming raised its holdings in AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after purchasing an additional 446 shares in the last quarter. Finally, CWM LLC raised its position in AtriCure by 46.2% in the first quarter. CWM LLC now owns 2,818 shares of the medical device company's stock worth $91,000 after acquiring an additional 891 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

AtriCure Stock Down 3.0%

AtriCure stock traded down $1.07 during mid-day trading on Wednesday, hitting $34.89. 59,678 shares of the company's stock were exchanged, compared to its average volume of 568,723. AtriCure, Inc. has a 1-year low of $25.57 and a 1-year high of $43.11. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $34.50 and a two-hundred day moving average of $33.44. The stock has a market cap of $1.73 billion, a P/E ratio of -45.31 and a beta of 1.62.

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 (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.13. The company had revenue of $136.14 million for the quarter, compared to the consensus estimate of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The firm's revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insider Transactions at AtriCure

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of AtriCure stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total transaction of $91,450.00. Following the sale, the insider directly owned 71,872 shares of the company's stock, valued at approximately $2,629,077.76. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin J. Noznesky sold 3,000 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.30, for a total transaction of $108,900.00. Following the completion of the sale, the insider owned 83,964 shares in the company, valued at $3,047,893.20. This represents a 3.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,952 shares of company stock valued at $655,633 in the last ninety days. 3.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.