Nuveen Asset Management LLC Cuts Stock Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Nuveen Asset Management LLC lowered its stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,037,348 shares of the medical device company's stock after selling 149,584 shares during the period. Nuveen Asset Management LLC owned approximately 2.13% of AtriCure worth $31,701,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of AtriCure by 1.8% in the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock valued at $414,000 after acquiring an additional 265 shares during the period. Invesco Ltd. raised its position in AtriCure by 0.8% in the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock worth $1,334,000 after purchasing an additional 334 shares during the period. Perkins Capital Management Inc. lifted its stake in AtriCure by 1.3% in the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company's stock worth $927,000 after purchasing an additional 400 shares during the last quarter. Truist Financial Corp lifted its stake in AtriCure by 2.6% in the fourth quarter. Truist Financial Corp now owns 15,717 shares of the medical device company's stock worth $480,000 after purchasing an additional 403 shares during the last quarter. Finally, LPL Financial LLC increased its stake in AtriCure by 5.4% in the 4th quarter. LPL Financial LLC now owns 11,465 shares of the medical device company's stock worth $350,000 after buying an additional 584 shares during the period. Institutional investors own 99.11% of the company's stock.

Insider Activity at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now directly owns 17,828 shares of the company's stock, valued at $679,603.36. This represents a 25.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

AtriCure Stock Down 0.3%

NASDAQ:ATRC traded down $0.10 during midday trading on Friday, reaching $32.71. 330,069 shares of the stock traded hands, compared to its average volume of 650,988. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $43.11. The business has a 50-day moving average of $32.38 and a two-hundred day moving average of $34.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The stock has a market capitalization of $1.62 billion, a PE ratio of -34.43 and a beta of 1.57.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The company had revenue of $123.62 million during the quarter, compared to analysts' expectations of $122.92 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. AtriCure's revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Oppenheimer raised their price target on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Canaccord Genuity Group reduced their price target on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Needham & Company LLC reduced their price target on shares of AtriCure from $51.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus raised their price target on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, BTIG Research reissued a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, AtriCure has a consensus rating of "Buy" and a consensus price target of $50.67.

About AtriCure

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.