Marks Group Wealth Management Inc Increases Stock Position in AtriCure, Inc. $ATRC

Key Points

• Marks Group Wealth Management Inc. increased its stake in AtriCure by 36.8% in the second quarter, owning 28,973 shares valued at approximately $949,000.
• AtriCure's stock is currently down 0.2% and has a market cap of $1.73 billion, with recent earnings exceeding analysts' expectations.
• Analysts have mixed views on AtriCure, with Needham & Company raising the target price to $45.00 while Weiss Ratings maintained a "sell" rating, contributing to an average rating of "Moderate Buy" among research analysts.

Marks Group Wealth Management Inc grew its stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 36.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,973 shares of the medical device company's stock after buying an additional 7,788 shares during the period. Marks Group Wealth Management Inc owned approximately 0.06% of AtriCure worth $949,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of AtriCure by 9,664.9% during the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the medical device company's stock worth $112,000 after acquiring an additional 3,576 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in AtriCure during the first quarter worth about $916,000. Assenagon Asset Management S.A. boosted its holdings in shares of AtriCure by 5.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 146,096 shares of the medical device company's stock worth $4,713,000 after purchasing an additional 6,995 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of AtriCure by 0.8% in the 1st quarter. WCM Investment Management LLC now owns 193,352 shares of the medical device company's stock worth $6,154,000 after purchasing an additional 1,551 shares in the last quarter. Finally, First Horizon Advisors Inc. increased 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 purchasing an additional 832 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

AtriCure Stock Down 0.2%

Shares of NASDAQ ATRC opened at $34.73 on Tuesday. The firm's fifty day moving average is $35.83 and its 200 day moving average is $33.49. AtriCure, Inc. has a 52 week low of $25.57 and a 52 week high of $43.11. 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 company has a market cap of $1.73 billion, a price-to-earnings ratio of -45.10 and a beta of 1.59.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $130.17 million. During the same quarter last year, the firm earned ($0.17) EPS. The company's revenue was up 17.1% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, equities research analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Justin J. Noznesky sold 3,000 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.30, for a total transaction of $108,900.00. Following the transaction, the insider directly owned 83,964 shares of the company's stock, valued at approximately $3,047,893.20. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sven Wehrwein sold 5,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $37.00, for a total value of $185,000.00. Following the completion of the sale, the director directly owned 34,374 shares of the company's stock, 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 17,952 shares of company stock worth $655,633 in the last quarter. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ATRC shares. Needham & Company LLC boosted their target price on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Weiss Ratings restated a "sell (d-)" rating on shares of AtriCure in a report on Saturday, September 27th. Wall Street Zen raised shares of AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, BTIG Research set a $54.00 target price on shares of AtriCure in a research report on Wednesday, July 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.89.

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.

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