AtriCure, Inc. $ATRC Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in AtriCure, Inc. by 4.1% during Q1, holding approximately 7.43% of the company, valued at $118.6 million after selling 158,600 shares.
• AtriCure reported a 17.1% year-over-year revenue increase of $136.14 million for the latest quarter, with EPS of ($0.02) beating estimates by $0.13.
• Analysts have generally increased their outlook on AtriCure, with a majority rating the stock as a "Buy" and adjusting target prices upward, reflecting positive sentiment about its future performance.

Alliancebernstein L.P. cut its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,676,849 shares of the medical device company's stock after selling 158,600 shares during the period. Alliancebernstein L.P. owned about 7.43% of AtriCure worth $118,615,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in shares of AtriCure by 1.0% during the first quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company's stock worth $2,700,000 after buying an additional 837 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of AtriCure during the first quarter worth $7,468,000. Graham Capital Management L.P. grew its holdings in shares of AtriCure by 113.9% during the first quarter. Graham Capital Management L.P. now owns 45,446 shares of the medical device company's stock worth $1,466,000 after buying an additional 24,197 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of AtriCure by 14.7% during the first quarter. Paradigm Capital Management Inc. NY now owns 123,100 shares of the medical device company's stock worth $3,971,000 after buying an additional 15,800 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in shares of AtriCure by 3.7% during the first quarter. Panagora Asset Management Inc. now owns 214,551 shares of the medical device company's stock worth $6,921,000 after buying an additional 7,684 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Trading Down 0.8%

Shares of ATRC opened at $35.38 on Friday. 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, Inc. has a 12-month low of $25.50 and a 12-month high of $43.11. The firm has a 50-day moving average price of $33.95 and a 200 day moving average price of $33.63. The firm has a market capitalization of $1.76 billion, a P/E ratio of -45.95 and a beta of 1.62.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.13. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The firm had revenue of $136.14 million during the quarter, compared to analyst estimates of $130.17 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. AtriCure'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. Sell-side analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other AtriCure news, Director Regina E. Groves sold 2,452 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $36.82, for a total transaction of $90,282.64. Following the completion of the transaction, the director owned 33,715 shares of the company's stock, valued at $1,241,386.30. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total transaction of $91,450.00. Following the transaction, the insider directly owned 71,872 shares of the company's stock, valued at approximately $2,629,077.76. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,952 shares of company stock valued at $546,733 over the last 90 days. 3.50% of the stock is owned by company insiders.

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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