AtriCure, Inc. $ATRC Position Boosted 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 increased its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 2,690.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,582 shares of the medical device company's stock after buying an additional 188,572 shares during the quarter. Acadian Asset Management LLC owned about 0.40% of AtriCure worth $6,304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ATRC. Ameriprise Financial Inc. bought a new position in AtriCure in the 4th quarter worth approximately $295,000. Focus Partners Wealth bought a new position in AtriCure in the 4th quarter worth approximately $498,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AtriCure by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,916 shares of the medical device company's stock worth $823,000 after buying an additional 1,013 shares in the last quarter. Man Group plc bought a new position in AtriCure in the 4th quarter worth approximately $745,000. Finally, ProShare Advisors LLC grew its holdings in AtriCure by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 13,330 shares of the medical device company's stock worth $407,000 after buying an additional 4,385 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Sven Wehrwein sold 5,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the sale, the director owned 34,374 shares in the company, valued at approximately $1,271,838. This represents a 12.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $36.58, for a total value of $91,450.00. Following the sale, the insider owned 71,872 shares of the company's stock, valued at $2,629,077.76. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,952 shares of company stock worth $546,733. Insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

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

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $35.07 on Friday. AtriCure, Inc. has a one year low of $25.57 and a one year high of $43.11. The stock has a fifty day moving average of $34.35 and a 200-day moving average of $33.48. The company has a market capitalization of $1.74 billion, a PE ratio of -45.54 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.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced 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. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The company had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The company's quarterly revenue was up 17.1% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, equities analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

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.

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