UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Stock Position in AtriCure, Inc. $ATRC

Key Points

• UBS Asset Management significantly increased its stake in AtriCure, acquiring an additional 1.39 million shares, raising its total ownership to 2.2 million shares, valued at approximately $70.87 million.
• Multiple hedge funds, including State of Wyoming and US Bancorp DE, have also raised their positions in AtriCure, reflecting growing institutional interest in the company.
• AtriCure's stock price currently sits around $35.07, with the company reporting a quarterly revenue of $136.14 million, exceeding analysts' expectations and achieving a 17.1% year-over-year growth.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 170.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,196,914 shares of the medical device company's stock after purchasing an additional 1,385,544 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 4.44% of AtriCure worth $70,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in AtriCure by 1.0% during the first quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company's stock valued at $27,830,000 after purchasing an additional 8,956 shares in the last quarter. Millennium Management LLC boosted its position in AtriCure by 79.2% during the first quarter. Millennium Management LLC now owns 623,323 shares of the medical device company's stock valued at $20,108,000 after purchasing an additional 275,487 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $908,000 after purchasing an additional 1,230 shares in the last quarter. AQR Capital Management LLC boosted its position in AtriCure by 1.0% during the first quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company's stock valued at $2,700,000 after purchasing an additional 837 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in AtriCure during the first quarter valued at about $7,468,000. Institutional investors own 99.11% of the company's stock.

AtriCure Stock Performance

Shares of AtriCure stock traded up $1.65 on Thursday, reaching $36.66. 366,458 shares of the stock were exchanged, compared to its average volume of 410,304. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16. AtriCure, Inc. has a twelve month low of $25.57 and a twelve 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 business has a 50 day moving average price of $34.65 and a two-hundred day moving average price of $33.43.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its earnings results 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 firm had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company's 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. Analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC raised their price target on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating 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, BTIG Research set a $54.00 price target on AtriCure in a report on Wednesday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AtriCure presently has a consensus rating of "Buy" and a consensus price target of $50.89.

Insider Buying and Selling

In related news, insider Justin J. Noznesky sold 3,000 shares of AtriCure stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.30, for a total transaction of $108,900.00. Following the completion of the transaction, the insider directly owned 83,964 shares in the company, valued at approximately $3,047,893.20. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vinayak Doraiswamy sold 2,500 shares of AtriCure stock in a transaction that occurred 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 transaction, the insider owned 71,872 shares of the company's stock, valued at approximately $2,629,077.76. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,952 shares of company stock valued at $655,633 in the last ninety days. 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.