Amundi Reduces Stock Position in AtriCure, Inc. $ATRC

Key Points

• Amundi has reduced its stake in AtriCure, Inc. (NASDAQ:ATRC) by 5.7%, owning 254,934 shares worth approximately $8.39 million after selling 15,521 shares in Q1.
• AtriCure's recent earnings report revealed a beat in EPS, reporting ($0.02) against a consensus of ($0.15), with revenues up 17.1% year-over-year at $136.14 million.
• Analysts maintain a generally positive outlook for AtriCure, with multiple upgrades and an average target price set at $50.89, reflecting strong confidence in the stock's performance.

Amundi lessened its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,934 shares of the medical device company's stock after selling 15,521 shares during the period. Amundi owned approximately 0.51% of AtriCure worth $8,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in AtriCure in the first quarter valued at $30,666,000. Jennison Associates LLC acquired a new stake in AtriCure in the first quarter valued at $19,139,000. Osterweis Capital Management Inc. acquired a new stake in AtriCure in the first quarter valued at $9,536,000. Neuberger Berman Group LLC grew its holdings in AtriCure by 26.3% in the first quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company's stock valued at $38,365,000 after purchasing an additional 246,877 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in AtriCure in the first quarter valued at $7,468,000. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Stock Up 1.2%

AtriCure stock traded up $0.44 during midday trading on Monday, hitting $35.51. 66,330 shares of the company were exchanged, compared to its average volume of 567,494. The company's fifty day moving average price is $34.35 and its 200-day moving average price is $33.45. The company has a market cap of $1.76 billion, a PE ratio of -46.14 and a beta of 1.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. AtriCure, Inc. has a fifty-two week low of $25.57 and a fifty-two week high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.13. The firm 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%.AtriCure's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) EPS. 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.

Insider Buying and Selling

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 in the company, valued at $2,629,077.76. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Regina E. Groves sold 2,452 shares of AtriCure stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total value of $90,282.64. Following the sale, the director owned 33,715 shares in the company, valued at $1,241,386.30. This represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,952 shares of company stock valued at $546,733. Corporate insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen raised AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Needham & Company LLC increased their price objective on 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 objective on AtriCure in a research note on Wednesday, July 30th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $50.89.

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.