AtriCure, Inc. $ATRC Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC significantly reduced its stake in AtriCure, Inc. by 41.7% in the 1st quarter, now owning approximately 0.11% of the company's shares worth $1.81 million.
• Analysts have set varying price targets for AtriCure, with a consensus rating of "Buy" and a price target of $50.89, indicating positive market sentiment.
• AtriCure reported earnings of ($0.02) per share, surpassing estimates and showing a 17.1% year-over-year revenue increase to $136.14 million.

Algert Global LLC lessened its stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 41.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 56,069 shares of the medical device company's stock after selling 40,130 shares during the quarter. Algert Global LLC owned 0.11% of AtriCure worth $1,809,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. 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. Johnson Financial Group Inc. lifted its stake in AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after purchasing an additional 1,492 shares during the last quarter. US Bancorp DE lifted its stake 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 during the last quarter. Heck Capital Advisors LLC purchased a new stake in AtriCure during the fourth quarter worth approximately $60,000. Finally, State of Wyoming lifted its stake 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 during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ATRC. UBS Group decreased their target price on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Needham & Company LLC boosted their target price on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. BTIG Research set a $54.00 target price on AtriCure in a research note on Wednesday, July 30th. JMP Securities restated a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $50.89.

AtriCure Stock Performance

NASDAQ ATRC traded down $0.57 on Wednesday, reaching $37.30. The stock had a trading volume of 205,617 shares, compared to its average volume of 638,748. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 3.94. AtriCure, Inc. has a 12-month low of $25.24 and a 12-month high of $43.11. The business's 50-day moving average price is $33.38 and its 200 day moving average price is $33.86. The stock has a market cap of $1.85 billion, a P/E ratio of -48.44 and a beta of 1.61.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.13. The business had revenue of $136.14 million for the quarter, compared to analyst estimates of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, equities analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insider Activity

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total value of $91,450.00. Following the transaction, the insider 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 SEC, which is accessible through this hyperlink. Also, Director Regina E. Groves sold 2,452 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $36.82, for a total value of $90,282.64. Following the completion of the transaction, the director directly owned 33,715 shares in the company, valued at approximately $1,241,386.30. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,952 shares of company stock valued at $546,733. Company insiders own 3.50% of the company's stock.

About AtriCure

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.