AtriCure, Inc. $ATRC Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly increased its stake in AtriCure, Inc. by 2,690.0%, owning approximately 195,582 shares valued at about $6.3 million as of its latest SEC filing.
• Insider trades showed a decrease in stock ownership, with Director Sven Wehrwein selling 5,000 shares for $185,000, and another insider, Vinayak Doraiswamy, selling 2,500 shares for approximately $91,450.
• Analysts have a positive outlook for AtriCure, recently issuing several upgrades and setting a consensus target price of $50.89, with the stock currently holding an average "Buy" rating.

Acadian Asset Management LLC raised its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 2,690.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,582 shares of the medical device company's stock after buying an additional 188,572 shares during the period. Acadian Asset Management LLC owned about 0.40% of AtriCure worth $6,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC boosted its position in shares of AtriCure by 658.3% during the first quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company's stock worth $3,254,000 after buying an additional 87,553 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of AtriCure by 170.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company's stock worth $70,872,000 after buying an additional 1,385,544 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of AtriCure by 1.0% during the first quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company's stock worth $27,830,000 after buying an additional 8,956 shares during the period. Millennium Management LLC boosted its position in shares of AtriCure by 79.2% during the first quarter. Millennium Management LLC now owns 623,323 shares of the medical device company's stock worth $20,108,000 after buying an additional 275,487 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of AtriCure by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company's stock worth $908,000 after buying an additional 1,230 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Stock Up 4.7%

NASDAQ ATRC traded up $1.65 during trading on Thursday, reaching $36.66. 366,458 shares of the company's stock were exchanged, compared to its average volume of 410,304. The stock has a market cap of $1.82 billion, a P/E ratio of -47.61 and a beta of 1.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 3.94. The company has a 50 day moving average price of $34.65 and a two-hundred day moving average price of $33.43. AtriCure, Inc. has a 1 year low of $25.57 and a 1 year high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.13. The company had revenue of $136.14 million during 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%.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 business earned ($0.17) EPS. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, equities research analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, Director Regina E. Groves sold 2,452 shares of AtriCure stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total transaction of $90,282.64. Following the completion of the sale, the director directly owned 33,715 shares of the company's stock, valued at $1,241,386.30. The trade was a 6.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sven Wehrwein sold 5,000 shares of AtriCure stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $37.00, for a total value of $185,000.00. Following the sale, the director owned 34,374 shares in the company, valued at $1,271,838. This trade represents a 12.70% 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 over the last quarter. Corporate insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

ATRC has been the subject of several research analyst reports. Wall Street Zen upgraded AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Needham & Company LLC lifted their target price on AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, BTIG Research set a $54.00 target price on AtriCure in a report on Wednesday, July 30th. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $50.89.

AtriCure Company 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.