Informed Momentum Co LLC Makes New Investment in AtriCure, Inc. (NASDAQ:ATRC)

Key Points

• Informed Momentum Co LLC has invested approximately $2.76 million in AtriCure, acquiring 85,525 shares, which constitutes around 0.17% of the company.
• Insider sales included Vinayak Doraiswamy and Regina E. Groves, who sold shares at prices averaging $36.58 and $36.82, respectively, decreasing their ownership stakes.
• AtriCure reported a quarterly revenue increase of 17.1% year-over-year, with earnings surpassing analyst expectations by posting an EPS of ($0.02).

Informed Momentum Co LLC purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 85,525 shares of the medical device company's stock, valued at approximately $2,759,000. Informed Momentum Co LLC owned about 0.17% of AtriCure at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ATRC. First Horizon Advisors Inc. increased its holdings in shares of AtriCure by 135.3% during the 1st 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 last quarter. Johnson Financial Group Inc. increased its holdings in shares of AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after buying an additional 1,492 shares during the last quarter. US Bancorp DE increased its holdings in AtriCure by 98.1% in the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock valued at $51,000 after purchasing an additional 789 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in AtriCure in the 4th quarter valued at approximately $60,000. Finally, State of Wyoming increased its holdings 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 purchasing an additional 446 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Transactions at AtriCure

In other news, Director Regina E. Groves sold 2,452 shares of the business's 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 transaction, the director directly owned 33,715 shares in the company, valued at $1,241,386.30. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vinayak Doraiswamy sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total transaction of $91,450.00. Following the transaction, the insider owned 71,872 shares in the company, valued at approximately $2,629,077.76. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,452 shares of company stock valued at $265,333 over the last ninety days. Corporate insiders own 3.50% of the company's stock.

AtriCure Stock Performance

ATRC traded down $1.29 on Thursday, reaching $35.41. The company had a trading volume of 387,667 shares, compared to its average volume of 591,228. AtriCure, Inc. has a 1 year low of $22.81 and a 1 year high of $43.11. The stock has a market capitalization of $1.76 billion, a PE ratio of -45.99 and a beta of 1.61. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $32.72 and a 200-day moving average price of $34.13.

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 analysts' consensus estimates of ($0.15) by $0.13. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The business had revenue of $136.14 million during the quarter, compared to analysts' expectations of $130.17 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The business's revenue was up 17.1% compared to the same quarter last year. As a group, research analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. BTIG Research set a $54.00 target price on shares of AtriCure in a report on Wednesday, July 30th. JMP Securities reiterated a "market outperform" rating and issued a $60.00 target price on shares of AtriCure in a report on Wednesday, April 30th. Needham & Company LLC lifted their target price on shares of AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. UBS Group decreased their price target on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $50.89.

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.