AtriCure, Inc. $ATRC Stake Reduced by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has reduced its stake in AtriCure, Inc. by 67.8%, now holding approximately 0.09% of the company, worth about $1.54 million.
• Several institutional investors have increased their holdings in AtriCure, with First Horizon Advisors boosting their stake by 135.3% and GAMMA Investing increasing theirs by an extraordinary 9,664.9%.
• AtriCure recently reported a revenue of $136.14 million for the last quarter, surpassing analysts' estimates and showing a year-over-year growth of 17.1%.

Assenagon Asset Management S.A. decreased its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 67.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,002 shares of the medical device company's stock after selling 99,094 shares during the period. Assenagon Asset Management S.A. owned approximately 0.09% of AtriCure worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in shares of AtriCure by 135.3% in the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after buying an additional 832 shares during the last quarter. US Bancorp DE increased its position in AtriCure by 98.1% in 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 in the last quarter. CWM LLC grew its position 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 worth $91,000 after buying an additional 891 shares during the period. GAMMA Investing LLC grew its position in shares of AtriCure by 9,664.9% during the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the medical device company's stock worth $112,000 after buying an additional 3,576 shares during the period. Finally, Strs Ohio acquired a new position in shares of AtriCure in the 1st quarter valued at approximately $158,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analyst Weigh In

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

AtriCure Trading Up 0.5%

NASDAQ:ATRC opened at $35.20 on Friday. AtriCure, Inc. has a 1 year low of $25.57 and a 1 year high of $43.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. The company has a market cap of $1.75 billion, a P/E ratio of -45.71 and a beta of 1.62. The stock's fifty day moving average price is $35.35 and its two-hundred day moving average price is $33.45.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.13. The business had revenue of $136.14 million for the quarter, compared to the consensus estimate of $130.17 million. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. AtriCure's quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, analysts expect that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Activity

In other news, Director Regina E. Groves sold 2,452 shares of the stock in a transaction 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 sale, the director directly owned 33,715 shares of the company's stock, valued at approximately $1,241,386.30. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justin J. Noznesky sold 3,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.30, for a total value of $108,900.00. Following the completion of the transaction, the insider 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 disclosure for this sale can be found here. Insiders sold 17,952 shares of company stock valued at $655,633 in the last three months. Corporate insiders own 3.50% of the company's stock.

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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