Cresset Asset Management LLC Invests $365,000 in AtriCure, Inc. $ATRC

Key Points

• Cresset Asset Management LLC acquired 11,328 shares of AtriCure, Inc. valued at approximately $365,000 in the 1st quarter.
• Major institutional investors have significantly increased their holdings in AtriCure, resulting in institutional ownership now representing 99.11% of the company's stock.
• AtriCure's stock has received favorable ratings from analysts, with a consensus target price of $50.89 and multiple "buy" ratings from various investment firms.

Cresset Asset Management LLC purchased a new stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,328 shares of the medical device company's stock, valued at approximately $365,000.

Several other hedge funds have also made changes to their positions in ATRC. LPL Financial LLC grew its stake in shares of AtriCure by 5.4% in the 4th quarter. LPL Financial LLC now owns 11,465 shares of the medical device company's stock valued at $350,000 after buying an additional 584 shares during the period. Invesco Ltd. grew its stake in shares of AtriCure by 0.8% in the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock valued at $1,334,000 after buying an additional 334 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of AtriCure in the 4th quarter valued at approximately $3,716,000. Dimensional Fund Advisors LP grew its stake in shares of AtriCure by 24.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock valued at $21,398,000 after buying an additional 136,015 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of AtriCure by 4.6% in the 4th quarter. MetLife Investment Management LLC now owns 28,673 shares of the medical device company's stock valued at $876,000 after buying an additional 1,260 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

AtriCure Trading Down 0.6%

Shares of NASDAQ:ATRC traded down $0.23 during mid-day trading on Friday, reaching $36.99. 334,377 shares of the company were exchanged, compared to its average volume of 480,346. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -48.04 and a beta of 1.61. The firm's 50-day simple moving average is $33.61 and its 200 day simple moving average is $33.73. AtriCure, Inc. has a 1 year low of $25.26 and a 1 year high of $43.11.

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

Insider Buying and Selling at AtriCure

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $36.58, for a total value of $91,450.00. Following the completion of the transaction, the insider owned 71,872 shares of the company's stock, valued at $2,629,077.76. This trade represents a 3.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sven Wehrwein sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the transaction, the director directly owned 34,374 shares of the company's stock, valued at $1,271,838. This represents a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,952 shares of company stock valued at $546,733 in the last 90 days. Company insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ATRC. Needham & Company LLC increased their price target on shares of AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. BTIG Research set a $54.00 price objective on shares of AtriCure in a research report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, AtriCure has an average rating of "Buy" and an average price target of $50.89.

About AtriCure

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.