AtriCure, Inc. $ATRC Shares Bought by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its holdings in AtriCure, Inc. by 26.3% during the first quarter, owning approximately 2.40% of the company, valued at $38.37 million.
• Several hedge funds, including First Horizon Advisors Inc. and Johnson Financial Group Inc., significantly boosted their stakes in AtriCure, reflecting strong institutional interest.
• AtriCure recently received positive analyst updates, with ratings upgrades and price targets set averaging around $50.89. The stock currently holds a consensus rating of "Buy."

Neuberger Berman Group LLC raised its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 26.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,186,065 shares of the medical device company's stock after purchasing an additional 246,877 shares during the period. Neuberger Berman Group LLC owned about 2.40% of AtriCure worth $38,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ATRC. Nuveen LLC bought a new stake in AtriCure during the 1st quarter valued at $30,666,000. Jennison Associates LLC bought a new position in shares of AtriCure in the 1st quarter worth $19,139,000. Adage Capital Partners GP L.L.C. bought a new position in shares of AtriCure in the 4th quarter worth $9,168,000. Marshall Wace LLP raised its position in shares of AtriCure by 37.1% in the 4th quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company's stock worth $18,922,000 after acquiring an additional 167,476 shares in the last quarter. Finally, Oberweis Asset Management Inc. bought a new position in shares of AtriCure in the 4th quarter worth $4,630,000. 99.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

AtriCure Stock Up 0.5%

ATRC stock traded up $0.17 on Monday, hitting $35.62. 427,695 shares of the company's stock were exchanged, compared to its average volume of 588,382. 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 firm has a 50 day moving average price of $32.73 and a two-hundred day moving average price of $33.98. The stock has a market cap of $1.77 billion, a P/E ratio of -46.26 and a beta of 1.61. AtriCure, Inc. has a 12-month low of $23.27 and a 12-month high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.13. The business had revenue of $136.14 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, equities research analysts expect that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insider Activity

In other news, Director Regina E. Groves sold 2,452 shares of the business's stock in a transaction dated 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 owned 33,715 shares of the company's stock, valued at $1,241,386.30. The trade was a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vinayak Doraiswamy sold 2,500 shares of the business's stock in a transaction dated 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 trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,452 shares of company stock worth $265,333. Company 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.