AtriCure, Inc. $ATRC Stock Position Boosted by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in AtriCure, Inc. by 103.5% in the first quarter, owning a total of 247,436 shares valued at approximately $7.98 million.
• AtriCure reported quarterly revenue of $136.14 million, outperforming analyst expectations, with a 17.1% year-over-year increase compared to the same period last year.
• Several analysts have upgraded AtriCure's stock rating, with price targets set as high as $54.00, indicating strong market confidence in the company's potential.

Raymond James Financial Inc. boosted its stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 103.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,436 shares of the medical device company's stock after buying an additional 125,845 shares during the period. Raymond James Financial Inc. owned 0.50% of AtriCure worth $7,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. bought a new position in AtriCure in the 4th quarter valued at about $295,000. Envestnet Asset Management Inc. grew its position in AtriCure by 22.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 56,656 shares of the medical device company's stock valued at $1,828,000 after buying an additional 10,570 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in AtriCure by 5.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 146,096 shares of the medical device company's stock valued at $4,713,000 after acquiring an additional 6,995 shares during the last quarter. GAMMA Investing LLC lifted its holdings in AtriCure by 9,664.9% in the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the medical device company's stock valued at $112,000 after acquiring an additional 3,576 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in AtriCure in the 1st quarter valued at about $1,847,000. Institutional investors own 99.11% of the company's stock.

AtriCure Price Performance

ATRC stock opened at $36.99 on Tuesday. 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 one year low of $25.26 and a one year high of $43.11. The firm has a market capitalization of $1.84 billion, a PE ratio of -48.04 and a beta of 1.62. The firm has a 50-day moving average of $33.71 and a two-hundred day moving average of $33.66.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) 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 company had revenue of $136.14 million during the quarter, compared to analyst estimates of $130.17 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. The business'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. On average, analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at AtriCure

In other AtriCure news, Director Regina E. Groves sold 2,452 shares of the company's 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sven Wehrwein sold 5,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the sale, the director directly owned 34,374 shares of the company's stock, valued at $1,271,838. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,952 shares of company stock valued at $546,733. 3.50% of the stock is currently owned by corporate 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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