AlphaQuest LLC Increases Stock Position in AtriCure, Inc. $ATRC

Key Points

• AlphaQuest LLC increased its stake in AtriCure, Inc. by 255.8% in the first quarter, now holding a total of 18,011 shares valued at approximately $581,000.
• In related activity, insider Vinayak Doraiswamy sold 2,500 shares of AtriCure at an average price of $36.58, resulting in a 3.36% decrease in his position.
• AtriCure recently reported quarterly earnings, posting an EPS of ($0.02) which exceeded analysts' expectations, alongside a revenue of $136.14 million, a 17.1% rise year-over-year.

AlphaQuest LLC lifted its position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 255.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,011 shares of the medical device company's stock after buying an additional 12,949 shares during the period. AlphaQuest LLC's holdings in AtriCure were worth $581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ATRC. First Horizon Advisors Inc. grew its position in shares of AtriCure by 135.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after buying an additional 832 shares during the last quarter. Johnson Financial Group Inc. increased its stake in AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock valued at $49,000 after purchasing an additional 1,492 shares in the last quarter. US Bancorp DE increased its stake in AtriCure by 98.1% during the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock valued at $51,000 after purchasing an additional 789 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in AtriCure during the 4th quarter valued at approximately $60,000. Finally, State of Wyoming increased its stake in AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock valued at $76,000 after purchasing an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Activity

In other news, Director Regina E. Groves sold 2,452 shares of the company's stock in a transaction 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 sale, the director directly owned 33,715 shares of the company's stock, valued at $1,241,386.30. This represents a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction 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 in the company, valued at $2,629,077.76. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,952 shares of company stock valued at $546,733 in the last ninety days. Insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

ATRC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Needham & Company LLC upped their price target 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 price target on shares of AtriCure in a research note on Wednesday, July 30th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, AtriCure has an average rating of "Buy" and a consensus target price of $50.89.

AtriCure Stock Performance

Shares of ATRC stock traded down $0.23 during trading hours on Friday, hitting $36.99. The company's stock had a trading volume of 334,377 shares, compared to its average volume of 460,548. The company has a 50 day moving average of $33.61 and a 200 day moving average of $33.69. The stock has a market cap of $1.84 billion, a PE ratio of -48.04 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, Inc. has a 12-month low of $25.26 and a 12-month high of $43.11.

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

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.