8,340 Shares in AtriCure, Inc. $ATRC Bought by First Bank & Trust

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 acquired a new stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,340 shares of the medical device company's stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATRC. Vanguard Group Inc. raised 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 purchasing an additional 61,166 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in AtriCure by 170.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company's stock worth $70,872,000 after acquiring an additional 1,385,544 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in AtriCure by 26.3% during the 1st quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company's stock valued at $38,365,000 after acquiring an additional 246,877 shares during the period. Nuveen LLC purchased a new stake in shares of AtriCure in the 1st quarter worth $30,666,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of AtriCure by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company's stock worth $27,830,000 after buying an additional 8,956 shares during the period. Institutional investors own 99.11% of the company's stock.

Insider Activity

In related 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 transaction, the insider owned 71,872 shares of the company's stock, valued at approximately $2,629,077.76. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sven Wehrwein sold 5,000 shares of the business's stock in a transaction 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 owned 34,374 shares in the company, valued at $1,271,838. This represents a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,952 shares of company stock valued at $655,633 in the last quarter. 3.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC upped their target price on 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 upgraded AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, BTIG Research set a $54.00 price objective on AtriCure in a research report on Wednesday, July 30th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $50.89.

AtriCure Trading Down 0.6%

Shares of ATRC stock traded down $0.23 during trading hours on Friday, hitting $36.43. 676,041 shares of the company's stock traded hands, compared to its average volume of 415,295. AtriCure, Inc. has a 12 month low of $25.57 and a 12 month high of $43.11. The stock's 50 day simple moving average is $34.76 and its 200 day simple moving average is $33.39. The stock has a market cap of $1.81 billion, a PE ratio of -47.31 and a beta of 1.62. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16.

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. The business had revenue of $136.14 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, sell-side analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current year.

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.