First Bank & Trust Invests $273,000 in AtriCure, Inc. $ATRC

Key Points

• First Bank & Trust invested approximately $273,000 in AtriCure, purchasing 8,340 shares during the second quarter, contributing to a growing interest from institutional investors in the company.
• AtriCure's stock recently rose 3.8% and has experienced an impressive 17.1% revenue increase year-over-year, surpassing consensus estimates for both earnings and revenue.
• Wall Street analysts maintain a favorable outlook with an average rating of "Buy" and a consensus target price of $50.89 for AtriCure shares.

First Bank & Trust bought a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,340 shares of the medical device company's stock, valued at approximately $273,000.

A number of other large investors also recently modified their holdings of ATRC. First Horizon Advisors Inc. lifted 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 purchasing an additional 832 shares in the last quarter. US Bancorp DE lifted its position in shares of 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 purchasing an additional 789 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of AtriCure during the fourth quarter worth approximately $60,000. State of Wyoming lifted its holdings in AtriCure by 21.9% in the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock valued at $76,000 after buying an additional 446 shares during the period. Finally, CWM LLC boosted its stake in AtriCure by 46.2% in the first quarter. CWM LLC now owns 2,818 shares of the medical device company's stock valued at $91,000 after acquiring an additional 891 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ATRC. BTIG Research set a $54.00 price objective on shares of AtriCure 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, Needham & Company LLC raised their price objective 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. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, AtriCure currently has an average rating of "Buy" and a consensus target price of $50.89.

AtriCure Stock Up 3.8%

AtriCure stock opened at $35.96 on Wednesday. The company has a market cap of $1.79 billion, a P/E ratio of -46.70 and a beta of 1.62. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $34.50 and a 200 day simple moving average of $33.44. AtriCure, Inc. has a 1-year low of $25.57 and a 1-year 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, topping the consensus estimate of ($0.15) by $0.13. The business 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%. AtriCure's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS. 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.

Insider Buying and Selling at AtriCure

In other news, insider Justin J. Noznesky sold 3,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.30, for a total value of $108,900.00. Following the completion of the transaction, the insider directly owned 83,964 shares in the company, valued at approximately $3,047,893.20. The trade was a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $36.58, for a total transaction 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. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,952 shares of company stock worth $655,633 over the last quarter. Company insiders own 3.50% of the company's stock.

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.

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