295,605 Shares in AtriCure, Inc. $ATRC Bought by Osterweis Capital Management Inc.

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 position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 295,605 shares of the medical device company's stock, valued at approximately $9,536,000. Osterweis Capital Management Inc. owned 0.60% of AtriCure at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. lifted its position in AtriCure by 135.3% during the first 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 during the period. Johnson Financial Group Inc. increased its position in shares of AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock valued at $49,000 after acquiring an additional 1,492 shares in the last quarter. US Bancorp DE increased its holdings in AtriCure by 98.1% in the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after buying an additional 789 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in AtriCure in the 4th quarter worth about $60,000. Finally, State of Wyoming increased its holdings in AtriCure by 21.9% in the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after buying an additional 446 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on ATRC shares. Wall Street Zen raised shares of AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group cut their target price on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 target price on shares of AtriCure in a research report on Wednesday, April 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 report on Wednesday, July 30th. Finally, BTIG Research set a $54.00 target price on shares of AtriCure in a research report on Wednesday, July 30th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $50.89.

AtriCure Stock Performance

Shares of ATRC stock traded up $0.0210 during mid-day trading on Monday, reaching $37.6810. 100,492 shares of the company's stock traded hands, compared to its average volume of 581,526. AtriCure, Inc. has a 12 month low of $25.24 and a 12 month high of $43.11. The firm has a 50 day moving average price of $33.05 and a two-hundred day moving average price of $33.83. 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 market capitalization of $1.87 billion, a PE ratio of -49.08 and a beta of 1.61.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued 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. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The firm had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, research analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Activity

In other news, insider Vinayak Doraiswamy sold 2,500 shares of AtriCure stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total transaction of $91,450.00. Following the transaction, the insider directly owned 71,872 shares of the company's stock, valued at $2,629,077.76. The trade was a 3.36% decrease in their position. The transaction 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 AtriCure stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $36.00, for a total value of $180,000.00. Following the transaction, the director directly owned 34,374 shares in the company, valued at approximately $1,237,464. The trade was a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,452 shares of company stock valued at $445,333 in the last ninety days. Corporate insiders own 3.50% of the company's stock.

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.