Osterweis Capital Management Inc. Makes New $9.54 Million Investment in AtriCure, Inc. $ATRC

Key Points

• Osterweis Capital Management Inc. made a new investment of approximately $9.54 million in AtriCure, acquiring 295,605 shares of the medical device company.
• Various other institutional investors have increased their holdings in AtriCure, with 99.11% of the stock currently owned by these entities.
• Analysts have generally given AtriCure a "buy" rating, with an average target price of $50.89, indicating positive sentiment despite recent price adjustments.

Osterweis Capital Management Inc. bought a new stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 295,605 shares of the medical device company's stock, valued at approximately $9,536,000. Osterweis Capital Management Inc. owned approximately 0.60% of AtriCure as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of ATRC. Nuveen LLC acquired a new stake in shares of AtriCure in the 1st quarter valued at $30,666,000. Jennison Associates LLC bought a new position in shares of AtriCure in the 1st quarter valued at $19,139,000. Adage Capital Partners GP L.L.C. bought a new position in shares of AtriCure in the 4th quarter valued at $9,168,000. Neuberger Berman Group LLC lifted its stake in shares of AtriCure by 26.3% in the 1st quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company's stock valued at $38,365,000 after acquiring an additional 246,877 shares during the last quarter. Finally, Oberweis Asset Management Inc. bought a new position in shares of AtriCure in the 4th quarter valued at $4,630,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Transactions at AtriCure

In other news, Director Regina E. Groves sold 2,452 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sven Wehrwein sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $36.00, for a total value of $180,000.00. Following the completion of the transaction, the director owned 34,374 shares in the company, valued at $1,237,464. The trade was a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,452 shares of company stock worth $445,333 in the last 90 days. Insiders own 3.50% of the company's stock.

AtriCure Stock Up 5.4%

ATRC traded up $1.93 during midday trading on Friday, reaching $37.66. 525,425 shares of the company were exchanged, compared to its average volume of 719,676. 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 company's fifty day moving average price is $33.05 and its 200 day moving average price is $33.88. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -48.91 and a beta of 1.61. AtriCure, Inc. has a one year low of $24.48 and a one year high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings data 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 analyst estimates 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 revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) EPS. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, analysts expect that AtriCure, Inc. will post -0.6 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC increased their price target on AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a research note 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 AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group reduced their target price on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, BTIG Research set a $54.00 target price on AtriCure in a research note on Wednesday, July 30th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.