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

Key Points

• Osterweis Capital Management Inc. purchased 295,605 shares of AtriCure, Inc., valued at approximately $9.54 million, representing 0.60% of the company's total shares as of the latest quarter.
• Wall Street analysts have upgraded AtriCure's stock, with Needham raising the price target from $44 to $45 and BTIG setting a target of $54, contributing to an average target price of $50.89 among nine buy ratings.
• AtriCure reported a 17.1% increase in quarterly revenue year-over-year, totaling $136.14 million, along with earnings per share of ($0.02), exceeding analysts' expectations by $0.13.

Osterweis Capital Management Inc. bought a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ATRC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of AtriCure by 170.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company's stock valued at $70,872,000 after buying an additional 1,385,544 shares during the period. Nuveen LLC acquired a new position in shares of AtriCure in the first quarter valued at approximately $30,666,000. Jennison Associates LLC acquired a new position in shares of AtriCure in the first quarter valued at approximately $19,139,000. Millennium Management LLC increased its stake in shares of AtriCure by 79.2% in the first quarter. Millennium Management LLC now owns 623,323 shares of the medical device company's stock valued at $20,108,000 after buying an additional 275,487 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of AtriCure by 26.3% in the first quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company's stock valued at $38,365,000 after buying an additional 246,877 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATRC. Wall Street Zen upgraded AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Needham & Company LLC increased their price target on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, BTIG Research set a $54.00 price target on AtriCure in a report on Wednesday, July 30th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $50.89.

Insider Buying and Selling

In related news, Director Regina E. Groves sold 2,452 shares of the stock in a transaction 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 directly owned 33,715 shares in the company, valued at $1,241,386.30. This trade represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sven Wehrwein sold 5,000 shares of the 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 transaction, the director owned 34,374 shares in the company, valued at approximately $1,271,838. This represents 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 14,952 shares of company stock worth $546,733 in the last ninety days. Corporate insiders own 3.50% of the company's stock.

AtriCure Price Performance

Shares of ATRC opened at $37.56 on Friday. AtriCure, Inc. has a 12-month low of $25.57 and a 12-month high of $43.11. The business's fifty day moving average is $34.28 and its 200 day moving average is $33.56. 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 stock has a market cap of $1.87 billion, a P/E ratio of -48.78 and a beta of 1.62.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its 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 return on equity of 4.20% and a negative net margin of 7.27%.The company had revenue of $136.14 million for the quarter, compared to analysts' expectations of $130.17 million. During the same period last year, the business earned ($0.17) EPS. AtriCure's quarterly revenue was up 17.1% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. Sell-side analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

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.

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