Paradigm Capital Management Inc. NY Boosts Stock Position in AtriCure, Inc. $ATRC

Key Points

• Paradigm Capital Management Inc. NY increased its stake in AtriCure, Inc. by 14.7%, acquiring an additional 15,800 shares during the first quarter, bringing their total holdings to approximately $3.97 million.
• AtriCure reported a quarterly revenue increase of 17.1% year-over-year, with earnings per share beating estimates, reporting ($0.02) against a forecast of ($0.15).
• Analysts have set new price targets for AtriCure, with Needham & Company raising it to $45.00 and BTIG Research setting a target of $54.00, reflecting a strong consensus of a "Buy" rating.

Paradigm Capital Management Inc. NY lifted its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,100 shares of the medical device company's stock after purchasing an additional 15,800 shares during the quarter. Paradigm Capital Management Inc. NY owned about 0.25% of AtriCure worth $3,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ATRC. Ameriprise Financial Inc. purchased a new stake in shares of AtriCure in the fourth quarter worth $295,000. Envestnet Asset Management Inc. raised its stake in shares of AtriCure by 22.9% in the first quarter. Envestnet Asset Management Inc. now owns 56,656 shares of the medical device company's stock worth $1,828,000 after buying an additional 10,570 shares during the period. Assenagon Asset Management S.A. raised its stake in AtriCure by 5.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 146,096 shares of the medical device company's stock valued at $4,713,000 after purchasing an additional 6,995 shares during the period. GAMMA Investing LLC grew its holdings in AtriCure by 9,664.9% during the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the medical device company's stock valued at $112,000 after buying an additional 3,576 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in AtriCure during the 1st quarter valued at approximately $1,847,000. 99.11% of the stock is currently owned by institutional investors.

AtriCure Price Performance

Shares of ATRC stock traded up $0.89 during trading hours on Thursday, reaching $35.66. The company had a trading volume of 305,359 shares, compared to its average volume of 572,279. 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 stock has a fifty day moving average of $33.83 and a 200-day moving average of $33.69. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -46.31 and a beta of 1.62. AtriCure, Inc. has a 12-month low of $25.50 and a 12-month 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) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $130.17 million. During the same period in the prior year, the business posted ($0.17) earnings per share. The firm'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, equities analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ATRC shares. Wall Street Zen raised AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Needham & Company LLC boosted their price target on 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 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, AtriCure has an average rating of "Buy" and an average target price of $50.89.

Insider Activity at AtriCure

In other AtriCure news, Director Sven Wehrwein sold 5,000 shares of AtriCure stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the sale, the director directly owned 34,374 shares of the company's stock, valued at $1,271,838. The trade was a 12.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Regina E. Groves sold 2,452 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $36.82, for a total value of $90,282.64. Following the completion of the sale, the director directly owned 33,715 shares of the company's stock, valued at $1,241,386.30. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,952 shares of company stock worth $546,733. Company insiders own 3.50% of the company's stock.

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.