Osterweis Capital Management Inc. Acquires New Position 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. purchased a new stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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 large investors have also recently added to or reduced their stakes in ATRC. Vanguard Group Inc. lifted its position in shares of AtriCure by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 4,714,371 shares of the medical device company's stock worth $152,086,000 after buying an additional 61,166 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in AtriCure by 170.8% during 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 worth $70,872,000 after acquiring an additional 1,385,544 shares during the period. Neuberger Berman Group LLC lifted its holdings in 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 worth $38,365,000 after acquiring an additional 246,877 shares during the last quarter. Nuveen LLC bought a new position in AtriCure in the first quarter worth about $30,666,000. Finally, Goldman Sachs Group Inc. boosted its stake in AtriCure by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company's stock valued at $27,830,000 after acquiring an additional 8,956 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen raised AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. BTIG Research set a $54.00 price objective on shares of AtriCure in a research note on Wednesday, July 30th. Finally, Needham & Company LLC upped their price target on shares of AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, AtriCure currently has an average rating of "Buy" and an average price target of $50.89.

AtriCure Price Performance

NASDAQ ATRC traded down $0.96 on Wednesday, reaching $35.00. The company's stock had a trading volume of 73,583 shares, compared to its average volume of 568,783. AtriCure, Inc. has a 52 week low of $25.57 and a 52 week high of $43.11. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $34.50 and a 200 day moving average price of $33.44. The firm has a market cap of $1.74 billion, a PE ratio of -45.35 and a beta of 1.62.

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

Insider Activity

In other AtriCure news, Director Regina E. Groves sold 2,452 shares of AtriCure stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $36.82, for a total value of $90,282.64. Following the sale, the director directly owned 33,715 shares in the company, valued at approximately $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 accessible through this link. Also, insider Vinayak Doraiswamy sold 2,500 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total transaction of $91,450.00. Following the sale, the insider directly owned 71,872 shares in the company, valued at $2,629,077.76. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,952 shares of company stock valued at $655,633. 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.