Cresset Asset Management LLC Takes Position 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) during the first quarter, according to its most recent filing with the SEC. The firm purchased 11,328 shares of the medical device company's stock, valued at approximately $365,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Neuberger Berman Group LLC boosted its position in shares of AtriCure by 26.3% in the 1st quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company's stock worth $38,365,000 after purchasing an additional 246,877 shares in the last quarter. Russell Investments Group Ltd. raised its stake in AtriCure by 16.0% in the 1st quarter. Russell Investments Group Ltd. now owns 181,719 shares of the medical device company's stock worth $5,862,000 after acquiring an additional 25,070 shares during the last quarter. Informed Momentum Co LLC purchased a new position in AtriCure in the 1st quarter worth $2,759,000. Knott David M Jr purchased a new position in AtriCure in the 1st quarter worth $794,000. Finally, Nuveen LLC purchased a new position in AtriCure in the 1st quarter worth $30,666,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Price Performance

Shares of ATRC traded down $0.06 during mid-day trading on Friday, hitting $37.17. 82,555 shares of the company were exchanged, compared to its average volume of 574,516. AtriCure, Inc. has a 1-year low of $25.26 and a 1-year high of $43.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 3.94. The company has a 50 day moving average of $33.50 and a 200-day moving average of $33.82. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -48.27 and a beta of 1.61.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, topping 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 firm had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The company's revenue for the quarter was up 17.1% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. Analysts expect that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insider Activity

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the business'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 sale, the insider directly owned 71,872 shares of the company's stock, valued at approximately $2,629,077.76. The trade was a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sven Wehrwein sold 5,000 shares of AtriCure 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 owned 34,374 shares of the company's stock, valued at $1,271,838. This trade represents a 12.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,952 shares of company stock valued at $546,733. Company insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ATRC. Needham & Company LLC increased their price target on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. BTIG Research set a $54.00 price target on AtriCure in a research report on Wednesday, July 30th. Finally, Wall Street Zen raised 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, Based on data from MarketBeat, AtriCure presently has an average rating of "Buy" and a consensus price target of $50.89.

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.