AtriCure, Inc. $ATRC Position Cut by DAFNA Capital Management LLC

Key Points

• DAFNA Capital Management LLC has reduced its stake in AtriCure, Inc. by selling 49,400 shares, bringing its total holdings to 592,273 shares and making AtriCure 5.4% of its portfolio.
• Several institutional investors, including Panagora Asset Management Inc. and Trexquant Investment LP, have increased their positions in AtriCure, indicating growing interest in the company.
• AtriCure has received upgrades from analysts, including a shift from a "hold" to a "buy" rating by Wall Street Zen and an increased target price from Needham & Company from $44.00 to $45.00.

DAFNA Capital Management LLC cut its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 592,273 shares of the medical device company's stock after selling 49,400 shares during the quarter. AtriCure comprises 5.4% of DAFNA Capital Management LLC's investment portfolio, making the stock its 5th biggest holding. DAFNA Capital Management LLC owned approximately 1.20% of AtriCure worth $19,107,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in AtriCure by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,714,371 shares of the medical device company's stock worth $152,086,000 after acquiring an additional 61,166 shares in the last quarter. Neuberger Berman Group LLC increased 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 in the last quarter. Nuveen LLC purchased a new stake in AtriCure in the first quarter worth about $30,666,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in AtriCure by 24.5% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 747,806 shares of the medical device company's stock worth $24,124,000 after buying an additional 147,000 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of AtriCure by 7.3% in the first quarter. Wellington Management Group LLP now owns 702,055 shares of the medical device company's stock worth $22,648,000 after acquiring an additional 47,551 shares during the period. 99.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ATRC shares. Needham & Company LLC increased their price target on 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 target on AtriCure in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $50.89.

AtriCure Price Performance

Shares of AtriCure stock traded down $1.52 on Wednesday, hitting $34.77. The company's stock had a trading volume of 470,799 shares, compared to its average volume of 574,779. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 3.94. AtriCure, Inc. has a 1 year low of $25.50 and a 1 year high of $43.11. The firm has a fifty day moving average price of $33.78 and a 200-day moving average price of $33.68. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -45.16 and a beta of 1.62.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results 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. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The firm had revenue of $136.14 million during the quarter, compared to analyst estimates of $130.17 million. During the same quarter in the previous year, the business earned ($0.17) EPS. AtriCure's revenue for the quarter was up 17.1% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, sell-side analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

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.