AtriCure, Inc. $ATRC Holdings Lowered by First Light Asset Management LLC

Key Points

• First Light Asset Management LLC has reduced its stake in AtriCure, Inc. by 33.2%, bringing its total ownership to 1,314,718 shares valued at approximately $42.41 million.
• AtriCure stock is currently trading at $36.99, having seen a 17.1% increase in revenue year-over-year, with reported quarterly earnings exceeding analyst expectations.
• The company's stock is highly rated by analysts, with a consensus rating of "Buy" and an average price target of $50.89.

First Light Asset Management LLC cut its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,314,718 shares of the medical device company's stock after selling 654,503 shares during the quarter. AtriCure accounts for 4.8% of First Light Asset Management LLC's investment portfolio, making the stock its 7th largest holding. First Light Asset Management LLC owned about 2.66% of AtriCure worth $42,413,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ATRC. First Horizon Advisors Inc. boosted its stake in 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 acquiring an additional 832 shares in the last quarter. US Bancorp DE boosted its position in shares of AtriCure by 98.1% during the 1st 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 stake in shares of AtriCure in the 4th quarter valued at about $60,000. State of Wyoming increased its position in AtriCure by 21.9% in the 4th 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 in the last quarter. Finally, CWM LLC raised its stake in AtriCure by 46.2% during the 1st quarter. CWM LLC now owns 2,818 shares of the medical device company's stock worth $91,000 after buying an additional 891 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analyst Weigh In

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

AtriCure Stock Down 0.8%

ATRC traded down $0.28 during midday trading on Friday, reaching $35.38. 294,257 shares of the company were exchanged, compared to its average volume of 382,280. 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's fifty day moving average price is $33.95 and its 200 day moving average price is $33.63. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -45.95 and a beta of 1.62. AtriCure, Inc. has a one year low of $25.50 and a one year high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.13. The firm had revenue of $136.14 million during the quarter, compared to analyst estimates of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The company's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) EPS. 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, Director Regina E. Groves sold 2,452 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total value of $90,282.64. Following the completion of the transaction, the director directly owned 33,715 shares of the company's stock, valued at $1,241,386.30. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vinayak Doraiswamy sold 2,500 shares of the company'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 completion of the transaction, the insider directly owned 71,872 shares of the company's stock, 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. Insiders sold a total of 14,952 shares of company stock valued at $546,733 over the last three months. Corporate 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.