Invesco Ltd. Raises Stock Position in AtriCure, Inc. $ATRC

Key Points

• Invesco Ltd. increased its holdings in AtriCure, Inc. by 19.5% during the first quarter, now owning approximately 0.11% of AtriCure, valued at $1.68 million.
• AtriCure reported earnings of ($0.02) per share for the last quarter, outperforming the consensus estimate of ($0.15), with revenues of $136.14 million, surpassing expectations.
• Several analysts have rated AtriCure with a consensus target price of $50.89, with the stock being classified as a Buy by nine research analysts.

Invesco Ltd. grew its stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,162 shares of the medical device company's stock after purchasing an additional 8,515 shares during the period. Invesco Ltd. owned about 0.11% of AtriCure worth $1,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its position 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 valued at $47,000 after buying an additional 832 shares in the last quarter. US Bancorp DE lifted 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 valued at $51,000 after buying an additional 789 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in AtriCure in the 4th quarter valued at $60,000. State of Wyoming boosted its stake in AtriCure by 21.9% during the 4th 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 during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in AtriCure by 232.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company's stock worth $88,000 after purchasing an additional 2,008 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Trading Up 2.9%

Shares of ATRC traded up $1.00 during mid-day trading on Thursday, reaching $35.77. The stock had a trading volume of 88,668 shares, compared to its average volume of 571,842. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. AtriCure, Inc. has a 52-week low of $25.50 and a 52-week high of $43.11. The business's fifty day moving average is $33.83 and its 200 day moving average is $33.69. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -46.47 and a beta of 1.62.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, beating 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 net margin of 7.27% and a negative return on equity of 4.20%. AtriCure's quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, sell-side analysts predict that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ATRC shares. BTIG Research set a $54.00 target price on shares of AtriCure in a research note on Wednesday, July 30th. Needham & Company LLC lifted their target price on shares of AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised shares of AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, AtriCure presently has a consensus rating of "Buy" and an average price target of $50.89.

Insider Buying and Selling at AtriCure

In other AtriCure news, Director Regina E. Groves sold 2,452 shares of the company's 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 transaction, the director 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 filing with the SEC, which is available through this link. Also, Director Sven Wehrwein sold 5,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the transaction, the director directly owned 34,374 shares in the company, valued at $1,271,838. The trade was a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,952 shares of company stock valued at $546,733 over the last 90 days. 3.50% of the stock is owned by insiders.

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.