AtriCure, Inc. $ATRC Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in AtriCure, Inc. by 10%, selling 7,896 shares and holding approximately 0.14% of the company worth $2.3 million thereafter.
• Needham & Company raised their target price on AtriCure from $44 to $45 and assigned a "buy" rating, with several other analysts also giving positive outlooks on the stock.
• Insider trades saw Director Regina E. Groves and insider Vinayak Doraiswamy selling shares at average prices around $36.58 to $36.82, indicating a reduction in their ownership of the company.

Rhumbline Advisers reduced its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,919 shares of the medical device company's stock after selling 7,896 shares during the period. Rhumbline Advisers owned about 0.14% of AtriCure worth $2,288,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Strs Ohio acquired a new stake in AtriCure in the first quarter valued at approximately $158,000. Advisors Capital Management LLC boosted its stake in shares of AtriCure by 64.8% in the first quarter. Advisors Capital Management LLC now owns 158,316 shares of the medical device company's stock worth $5,107,000 after acquiring an additional 62,234 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of AtriCure by 2,690.0% in the first quarter. Acadian Asset Management LLC now owns 195,582 shares of the medical device company's stock worth $6,304,000 after acquiring an additional 188,572 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of AtriCure by 658.3% in the first quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company's stock worth $3,254,000 after acquiring an additional 87,553 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of AtriCure by 170.8% in 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 acquiring an additional 1,385,544 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Trading Down 0.6%

ATRC traded down $0.23 during mid-day trading on Friday, hitting $36.43. 676,041 shares of the stock were exchanged, compared to its average volume of 415,295. The firm's fifty day moving average is $34.76 and its two-hundred day moving average is $33.42. AtriCure, Inc. has a 1-year low of $25.57 and a 1-year high of $43.11. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.81 billion, a PE ratio of -47.31 and a beta of 1.62.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $130.17 million. During the same quarter in the prior year, the business earned ($0.17) EPS. AtriCure's revenue was up 17.1% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. Equities analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the company's 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 sale, the insider owned 71,872 shares in the company, valued at $2,629,077.76. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Regina E. Groves sold 2,452 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total value of $90,282.64. Following the sale, the director owned 33,715 shares in the company, valued at approximately $1,241,386.30. This trade represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,952 shares of company stock worth $655,633 in the last quarter. Company insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

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