Informed Momentum Co LLC Makes New $2.76 Million 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 stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 85,525 shares of the medical device company's stock, valued at approximately $2,759,000. Informed Momentum Co LLC owned 0.17% of AtriCure as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in shares of AtriCure by 135.3% in the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock valued at $47,000 after buying an additional 832 shares during the period. Johnson Financial Group Inc. lifted its position in shares of AtriCure by 1,184.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after purchasing an additional 1,492 shares in the last quarter. US Bancorp DE lifted its position in shares of AtriCure by 98.1% in 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 bought a new stake in shares of AtriCure in the fourth quarter worth $60,000. Finally, State of Wyoming lifted its position in shares of AtriCure by 21.9% in the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after purchasing an additional 446 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Price Performance

AtriCure stock traded up $0.04 during trading hours on Friday, reaching $35.45. 329,374 shares of the stock were exchanged, compared to its average volume of 729,406. The company has a market cap of $1.76 billion, a P/E ratio of -46.04 and a beta of 1.61. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. AtriCure, Inc. has a twelve month low of $23.27 and a twelve month high of $43.11. The stock has a 50 day moving average of $32.73 and a two-hundred day moving average of $34.08.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results 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 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 business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Equities analysts expect that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insider Transactions at AtriCure

In other news, Director Regina E. Groves sold 2,452 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $36.82, for a total value of $90,282.64. Following the completion of the transaction, the director owned 33,715 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $91,450.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 7,452 shares of company stock valued at $265,333 in the last three months. Company insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ATRC. BTIG Research set a $54.00 price objective on shares of AtriCure in a research report on Wednesday, July 30th. Needham & Company LLC boosted their price objective on shares of AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. JMP Securities reissued a "market outperform" rating and issued a $60.00 price objective on shares of AtriCure in a research report on Wednesday, April 30th. Wall Street Zen raised shares of AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, UBS Group decreased their price objective on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AtriCure has an average 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.