AtriCure, Inc. $ATRC Holdings Boosted by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in AtriCure, Inc. by 113.9% in Q1, owning approximately 45,446 shares worth about $1.47 million.
• Equities analysts have a consensus rating of "Buy" for AtriCure, with nine analysts recommending the stock and an average price target of $50.89.
• AtriCure reported a revenue increase of 17.1% year-over-year, posting $136.14 million for the quarter and surpassing analyst expectations.

Graham Capital Management L.P. boosted its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 113.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,446 shares of the medical device company's stock after acquiring an additional 24,197 shares during the period. Graham Capital Management L.P. owned about 0.09% of AtriCure worth $1,466,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ATRC. Nuveen LLC acquired a new stake in shares of AtriCure in the first quarter valued at approximately $30,666,000. Jennison Associates LLC acquired a new stake in shares of AtriCure in the first quarter valued at approximately $19,139,000. Osterweis Capital Management Inc. acquired a new stake in shares of AtriCure in the first quarter valued at approximately $9,536,000. Neuberger Berman Group LLC increased its stake in shares of 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 period. Finally, Trexquant Investment LP increased its stake in shares of AtriCure by 180.6% in the first quarter. Trexquant Investment LP now owns 275,548 shares of the medical device company's stock valued at $8,889,000 after purchasing an additional 177,342 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

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

AtriCure Price Performance

NASDAQ ATRC opened at $36.29 on Wednesday. AtriCure, Inc. has a 12 month low of $25.50 and a 12 month high of $43.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. The firm has a market capitalization of $1.80 billion, a PE ratio of -47.13 and a beta of 1.62. The company's 50 day simple moving average is $33.78 and its 200 day simple moving average is $33.68.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) 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 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 quarter last year, the business earned ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, equities research analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Sven Wehrwein sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the sale, the director directly owned 34,374 shares in the company, valued at approximately $1,271,838. This trade represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Regina E. Groves sold 2,452 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total transaction of $90,282.64. Following the sale, the director owned 33,715 shares of the company's stock, valued at $1,241,386.30. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,952 shares of company stock worth $546,733. Corporate insiders own 3.50% of the company's stock.

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.

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