Bank of America Corp DE Sells 208,694 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Bank of America Corp DE decreased its position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 34.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 390,816 shares of the medical device company's stock after selling 208,694 shares during the period. Bank of America Corp DE owned about 0.80% of AtriCure worth $11,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. grew its stake in AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock valued at $49,000 after acquiring an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of AtriCure during the fourth quarter worth approximately $60,000. Venturi Wealth Management LLC grew its position in AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock valued at $69,000 after purchasing an additional 2,100 shares in the last quarter. KBC Group NV increased its stake in AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock valued at $72,000 after buying an additional 932 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in AtriCure by 232.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company's stock valued at $88,000 after buying an additional 2,008 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ATRC. BTIG Research restated a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Needham & Company LLC lowered their target price on AtriCure from $51.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Oppenheimer upped their target price on AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Canaccord Genuity Group reduced their price target on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Piper Sandler boosted their price target on AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $50.67.

Insider Activity

In other news, Director Karen Prange sold 6,100 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the sale, the director now directly owns 17,828 shares of the company's stock, valued at approximately $679,603.36. This represents a 25.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by company insiders.

AtriCure Stock Performance

ATRC stock traded up $1.24 during midday trading on Tuesday, hitting $33.95. 129,789 shares of the company traded hands, compared to its average volume of 648,920. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.11. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -35.74 and a beta of 1.57. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The business has a 50 day simple moving average of $32.34 and a 200-day simple moving average of $34.75.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.11. The business had revenue of $123.62 million during the quarter, compared to the consensus estimate of $122.92 million. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. AtriCure's quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) EPS. As a group, equities research analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current year.

AtriCure Company 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.