Cubist Systematic Strategies LLC Makes New $7.47 Million Investment in AtriCure, Inc. $ATRC

Key Points

• Cubist Systematic Strategies LLC acquired 231,480 shares of AtriCure, Inc. for approximately $7.5 million, boosting its stake to about 0.47% as of the latest SEC filing.
• AtriCure reported a quarterly earnings result with a loss of ($0.02) EPS, exceeding analysts' expectations, and a revenue increase of 17.1% year-over-year to $136.14 million.
• Analysts remain optimistic, with multiple firms, including BTIG Research and Needham & Company, raising their target prices and maintaining a consensus "Buy" rating for AtriCure's stock.

Cubist Systematic Strategies LLC purchased a new stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 231,480 shares of the medical device company's stock, valued at approximately $7,468,000. Cubist Systematic Strategies LLC owned 0.47% of AtriCure as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its position in shares of AtriCure by 135.3% during the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after buying an additional 832 shares during the period. US Bancorp DE boosted its stake in AtriCure by 98.1% during the first quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after acquiring an additional 789 shares in the last quarter. Heck Capital Advisors LLC bought a new position in AtriCure during the fourth quarter worth $60,000. State of Wyoming boosted its stake in AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after acquiring an additional 446 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in AtriCure by 232.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company's stock worth $88,000 after acquiring an additional 2,008 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

AtriCure Stock Up 1.0%

Shares of ATRC stock traded up $0.36 on Monday, hitting $35.74. The stock had a trading volume of 61,103 shares, compared to its average volume of 568,468. The business has a 50 day moving average of $33.95 and a 200 day moving average of $33.56. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -46.41 and a beta of 1.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. AtriCure, Inc. has a 12-month low of $25.57 and a 12-month high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its 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. The company had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The firm's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, analysts expect that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Activity

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction dated 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 sale, the insider owned 71,872 shares in the company, valued at $2,629,077.76. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Regina E. Groves sold 2,452 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $36.82, for a total transaction of $90,282.64. Following the completion of the sale, the director owned 33,715 shares of the company's stock, valued at approximately $1,241,386.30. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,952 shares of company stock worth $546,733 over the last quarter. Insiders own 3.50% of the company's stock.

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.