Bank of New York Mellon Corp Acquires Shares of 141,275 AtriCure, Inc. $ATRC

Key Points

• Bank of New York Mellon acquired 141,275 AtriCure shares worth approximately $3.95 million, giving it a 0.28% stake. Institutional investors collectively own 99.11% of the company.
• AtriCure insiders have sold 61,379 shares worth about $2.56 million over the past 90 days, including sales by Salvatore Privitera and Justin J. Noznesky under disclosed trading plans.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $52 target price. The company recently reported quarterly revenue of $153.6 million and EPS of $0.18, exceeding consensus estimates.

Bank of New York Mellon Corp bought a new position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 141,275 shares of the medical device company's stock, valued at approximately $3,953,000. Bank of New York Mellon Corp owned about 0.28% of AtriCure as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in AtriCure in the 2nd quarter worth approximately $37,000. Smartleaf Asset Management LLC boosted its stake in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company's stock valued at $46,000 after purchasing an additional 429 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in AtriCure during the 2nd quarter valued at $40,000. Fifth Third Bancorp bought a new stake in shares of AtriCure in the 1st quarter worth $51,000. Finally, Global Retirement Partners LLC bought a new stake in shares of AtriCure in the 4th quarter worth $73,000. Institutional investors own 99.11% of the company's stock.

Insider Buying and Selling at AtriCure

In other AtriCure news, insider Salvatore Privitera sold 7,763 shares of the business's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $52.50, for a total transaction of $407,557.50. Following the completion of the sale, the insider owned 150,921 shares of the company's stock, valued at approximately $7,923,352.50. The trade was a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Justin J. Noznesky sold 6,182 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $38.80, for a total value of $239,861.60. Following the completion of the sale, the insider owned 100,219 shares of the company's stock, valued at approximately $3,888,497.20. The trade was a 5.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 61,379 shares of company stock worth $2,557,552. Insiders own 4.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ATRC shares. Raymond James Financial set a $52.00 price objective on AtriCure in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of AtriCure from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. BTIG Research raised their price target on shares of AtriCure from $45.00 to $55.00 and gave the company a "buy" rating in a report on Monday, August 24th. Zacks Research lowered shares of AtriCure from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 24th. Finally, UBS Group reduced their price target on shares of AtriCure from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

AtriCure Price Performance

NASDAQ ATRC opened at $51.52 on Friday. The company has a 50-day moving average price of $40.10 and a 200-day moving average price of $32.83. AtriCure, Inc. has a 52 week low of $25.36 and a 52 week high of $53.50. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.62 billion, a P/E ratio of 245.35 and a beta of 1.26.

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

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company's solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company's product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.

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