Champlain Investment Partners LLC Reduces Holdings in AtriCure, Inc. $ATRC

Key Points

• Champlain Investment Partners LLC reduced its stake in AtriCure, Inc. by 15.4%, selling 390,651 shares to hold a total of 2,137,963 shares valued at approximately $68.97 million.
• Several hedge funds, including Vanguard and Neuberger Berman, increased their positions in AtriCure during the same quarter, reflecting a growing interest in the company, which is now 99.11% owned by institutional investors.
• AtriCure reported $136.14 million in revenue for the latest quarter, exceeding estimates, while also setting guidance for FY 2025 at -0.390 to -0.340 EPS.

Champlain Investment Partners LLC reduced its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 15.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,137,963 shares of the medical device company's stock after selling 390,651 shares during the quarter. Champlain Investment Partners LLC owned about 4.32% of AtriCure worth $68,971,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ATRC. Nuveen LLC bought a new position in shares of AtriCure during the 1st quarter valued at approximately $30,666,000. Jennison Associates LLC bought a new stake in AtriCure in the first quarter worth $19,139,000. Adage Capital Partners GP L.L.C. bought a new stake in AtriCure in the fourth quarter worth $9,168,000. Osterweis Capital Management Inc. bought a new stake in AtriCure in the first quarter worth $9,536,000. Finally, Neuberger Berman Group LLC lifted its position in AtriCure by 26.3% in the first quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company's stock worth $38,365,000 after buying an additional 246,877 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AtriCure

In other AtriCure news, Director Regina E. Groves sold 2,452 shares of AtriCure stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total value of $90,282.64. Following the transaction, the director owned 33,715 shares in the company, valued at $1,241,386.30. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sven Wehrwein sold 5,000 shares of AtriCure stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $37.00, for a total value of $185,000.00. Following the completion of the transaction, the director owned 34,374 shares in the company, valued at $1,271,838. This trade represents a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,952 shares of company stock worth $546,733 over the last quarter. Insiders own 3.50% of the company's stock.

AtriCure Stock Down 0.6%

Shares of ATRC stock traded down $0.23 on Monday, hitting $36.99. The stock had a trading volume of 334,377 shares, compared to its average volume of 460,548. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $33.61 and a 200 day moving average price of $33.69. The company has a market cap of $1.84 billion, a PE ratio of -48.04 and a beta of 1.62. AtriCure, Inc. has a one year low of $25.26 and a one year high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.13. The firm had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The firm's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. Research analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ATRC. BTIG Research set a $54.00 price target on AtriCure in a research report on Wednesday, July 30th. Wall Street Zen upgraded AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Needham & Company LLC lifted their target price on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, AtriCure currently has an average rating of "Buy" and an average price target of $50.89.

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.