Panagora Asset Management Inc. Boosts Stock Position in AtriCure, Inc. $ATRC

Key Points

• Panagora Asset Management Inc. increased its stake in AtriCure, Inc. by 3.7%, owning approximately 214,551 shares worth $6.92 million as of the latest SEC filing.
• AtriCure reported a revenue of $136.14 million for the last quarter, exceeding analysts' estimates, with a 17.1% increase compared to the previous year.
• Several analysts have raised their price targets for AtriCure, with a consensus target price of $50.89 and nine analysts rating the stock as a "Buy."

Panagora Asset Management Inc. increased its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,551 shares of the medical device company's stock after purchasing an additional 7,684 shares during the period. Panagora Asset Management Inc. owned approximately 0.43% of AtriCure worth $6,921,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. State of Wyoming grew its stake in AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after purchasing an additional 446 shares during the period. US Bancorp DE grew its stake in AtriCure by 98.1% during the first quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after purchasing an additional 789 shares during the period. First Horizon Advisors Inc. grew its stake in AtriCure by 135.3% during the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after purchasing an additional 832 shares during the period. Parallel Advisors LLC grew its stake in AtriCure by 13.0% during the first quarter. Parallel Advisors LLC now owns 7,229 shares of the medical device company's stock worth $233,000 after purchasing an additional 833 shares during the period. Finally, CWM LLC grew its stake in AtriCure by 46.2% during the first quarter. CWM LLC now owns 2,818 shares of the medical device company's stock worth $91,000 after purchasing an additional 891 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Stock Up 2.6%

Shares of NASDAQ:ATRC traded up $0.89 during mid-day trading on Thursday, hitting $35.66. 305,359 shares of the company traded hands, compared to its average volume of 573,175. The stock has a market cap of $1.77 billion, a P/E ratio of -46.31 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, Inc. has a 12-month low of $25.50 and a 12-month high of $43.11. The stock has a 50-day moving average price of $33.83 and a two-hundred day moving average price of $33.69.

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 (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.13. The company had revenue of $136.14 million for the quarter, compared to analysts' expectations of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.AtriCure's quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, equities research analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In other AtriCure news, Director Regina E. Groves sold 2,452 shares of the business's 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 transaction, the director owned 33,715 shares of the company's stock, valued at approximately $1,241,386.30. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vinayak Doraiswamy sold 2,500 shares of the business's stock in a transaction 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 transaction, the insider directly owned 71,872 shares in the company, valued at approximately $2,629,077.76. This represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,952 shares of company stock valued at $546,733. Insiders own 3.50% of the company's stock.

Wall Street Analyst Weigh In

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