Millennium Management LLC Has $20.11 Million Holdings in AtriCure, Inc. $ATRC

Key Points

• Millennium Management LLC increased its holdings in AtriCure by 79.2% in the first quarter, acquiring an additional 275,487 shares to reach a total of 623,323 shares valued at approximately $20.1 million.
• A number of institutional investors, including US Bancorp DE and First Horizon Advisors Inc., significantly increased their stakes in AtriCure, contributing to the overall 99.11% ownership of the company by institutional investors.
• AtriCure experienced a 17.1% year-over-year growth in quarterly revenue, reporting $136.14 million, along with an EPS of ($0.02) which surpassed analysts' expectations.

Millennium Management LLC grew its position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 79.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 623,323 shares of the medical device company's stock after purchasing an additional 275,487 shares during the period. Millennium Management LLC owned about 1.26% of AtriCure worth $20,108,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in shares of AtriCure by 135.3% during the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock valued at $47,000 after acquiring an additional 832 shares during the last quarter. US Bancorp DE increased its holdings in shares of 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 acquiring an additional 789 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of AtriCure during the 4th quarter valued at about $60,000. State of Wyoming increased its holdings in shares of 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 acquiring an additional 446 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of AtriCure by 46.2% during the 1st quarter. CWM LLC now owns 2,818 shares of the medical device company's stock valued at $91,000 after acquiring an additional 891 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Stock Performance

NASDAQ:ATRC traded up $1.65 during mid-day trading on Thursday, hitting $36.66. 366,458 shares of the company's stock traded hands, compared to its average volume of 410,304. The firm has a 50 day moving average of $34.65 and a two-hundred day moving average of $33.43. AtriCure, Inc. has a 12 month low of $25.57 and a 12 month high of $43.11. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -47.61 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 (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, topping 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 last year, the company earned ($0.17) EPS. The company's quarterly revenue was up 17.1% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, equities analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Transactions at AtriCure

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total value of $91,450.00. Following the completion of the sale, the insider owned 71,872 shares in the company, valued at approximately $2,629,077.76. This trade represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 value of $90,282.64. Following the completion of the sale, the director 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 disclosure for this sale can be found here. Insiders have sold a total of 17,952 shares of company stock worth $655,633 over the last 90 days. Insiders own 3.50% of the company's stock.

Analyst Ratings Changes

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

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.