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

Bank of America Corp DE decreased its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 34.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Silver Oak Securities Incorporated bought a new position in AtriCure in the fourth quarter valued at approximately $220,000. JPMorgan Chase & Co. lifted its stake in shares of AtriCure by 43.1% in the 4th quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company's stock valued at $11,160,000 after purchasing an additional 110,039 shares during the period. Calamos Advisors LLC boosted its position in shares of AtriCure by 27.9% in the 4th quarter. Calamos Advisors LLC now owns 110,671 shares of the medical device company's stock worth $3,382,000 after purchasing an additional 24,147 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of AtriCure during the fourth quarter worth $208,000. Finally, Sei Investments Co. grew its stake in shares of AtriCure by 6.1% during the fourth quarter. Sei Investments Co. now owns 107,290 shares of the medical device company's stock worth $3,279,000 after purchasing an additional 6,152 shares during the period. Institutional investors own 99.11% of the company's stock.

AtriCure Stock Down 1.3%

ATRC stock traded down $0.44 during trading on Wednesday, reaching $33.55. 28,971 shares of the stock were exchanged, compared to its average volume of 612,226. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $32.32 and its 200 day moving average is $34.74. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.11. The firm has a market cap of $1.66 billion, a P/E ratio of -35.32 and a beta of 1.57.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.11. The business had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. 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 posted ($0.28) EPS. As a group, research analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JMP Securities restated a "market outperform" rating and set a $60.00 price objective on shares of AtriCure in a report on Wednesday, April 30th. Piper Sandler boosted their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. UBS Group lowered their price objective on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Oppenheimer boosted their target price on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC lowered their target price on AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $50.67.

Insider Buying and Selling

In other AtriCure news, Director Karen Prange sold 6,100 shares of the company's 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 owns 17,828 shares of the company's stock, valued at $679,603.36. This represents a 25.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is currently owned by company insiders.

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.