Bank of America Corp DE Buys New Position in AtriCure, Inc. $ATRC

Key Points

• Bank of America acquired 874,370 AtriCure shares worth approximately $24.5 million, representing about 1.72% of the medical device company. Institutional investors and hedge funds collectively own 99.11% of ATRC.
• Analyst sentiment is broadly positive: AtriCure has a “Moderate Buy” consensus rating, with an average price target of $53.30 and recent target increases from Piper Sandler and Needham.
• AtriCure reported quarterly revenue of $153.6 million, above estimates, and earnings of $0.18 per share versus a loss in the prior-year quarter. However, insiders sold 70,349 shares worth about $3.05 million over the past three months.

Bank of America Corp DE purchased a new stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 874,370 shares of the medical device company's stock, valued at approximately $24,465,000. Bank of America Corp DE owned about 1.72% of AtriCure at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. ProShare Advisors LLC boosted its holdings in shares of AtriCure by 6.6% during the 4th quarter. ProShare Advisors LLC now owns 8,819 shares of the medical device company's stock valued at $349,000 after buying an additional 543 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of AtriCure by 43.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,983 shares of the medical device company's stock worth $158,000 after buying an additional 1,205 shares during the period. Harbor Investment Advisory LLC bought a new position in shares of AtriCure in the 2nd quarter worth about $40,000. Allworth Financial LP purchased a new position in AtriCure during the 2nd quarter valued at about $43,000. Finally, State of Wyoming lifted its position in AtriCure by 87.7% during the 1st quarter. State of Wyoming now owns 3,537 shares of the medical device company's stock valued at $101,000 after acquiring an additional 1,653 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AtriCure

In related news, insider Karl Dahlquist sold 9,370 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $48.89, for a total transaction of $458,099.30. Following the completion of the sale, the insider directly owned 87,319 shares in the company, valued at approximately $4,269,025.91. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Prange sold 3,564 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $38.80, for a total transaction of $138,283.20. Following the sale, the director directly owned 22,809 shares of the company's stock, valued at approximately $884,989.20. This represents a 13.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,349 shares of company stock valued at $3,046,757 in the last three months. Corporate insiders own 4.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ATRC shares. Citigroup restated a "market outperform" rating on shares of AtriCure in a report on Tuesday, July 21st. Piper Sandler lifted their target price on shares of AtriCure from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Needham & Company LLC lifted their target price on shares of AtriCure from $45.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd. Stifel Nicolaus set a $65.00 price target on AtriCure in a research report on Thursday, September 17th. Finally, Weiss Ratings upgraded AtriCure from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.30.

AtriCure Stock Performance

ATRC stock opened at $59.96 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.22 and a quick ratio of 3.19. AtriCure, Inc. has a 1 year low of $25.36 and a 1 year high of $61.48. The company has a market cap of $3.05 billion, a P/E ratio of 285.54 and a beta of 1.26. The stock's fifty day moving average price is $46.26 and its 200-day moving average price is $35.07.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results on Thursday, July 23rd. The medical device company reported $0.18 earnings per share for the quarter. AtriCure had a return on equity of 2.34% and a net margin of 1.85%.The company had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.80 million. During the same quarter in the prior year, the company earned ($0.13) earnings per share. AtriCure has set its FY 2026 guidance at 0.240-0.320 EPS. On average, equities analysts forecast that AtriCure, Inc. will post 0.29 earnings per share for the current year.

About AtriCure

AtriCure, Inc NASDAQ: ATRC is a medical device company focused on the treatment of atrial fibrillation (AF) and related conditions. The company develops, manufactures and sells surgical and minimally invasive technologies designed to restore normal heart rhythm and reduce the risk of stroke associated with AF.

Its product portfolio includes the AtriClip system for excluding the left atrial appendage, the Isolator and Synergy systems for surgical ablation, and the cryoICE system, which uses cryothermal energy in cardiac procedures.

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