Russell Investments Group Ltd. Acquires 25,070 Shares of AtriCure, Inc. $ATRC

Key Points

• Russell Investments Group Ltd. increased its stake in AtriCure, Inc. by 16%, acquiring 25,070 new shares, bringing its total ownership to 181,719 shares valued at approximately $5.86 million.
• AtriCure's recent quarterly earnings report showed a revenue increase of 17.1% compared to last year, with reported earnings per share (EPS) of ($0.02), surpassing analyst expectations of ($0.15).
• Wall Street analysts have a consensus rating of "Buy" for AtriCure, with investment firms setting price targets ranging from $45 to $60, indicating a positive outlook for the company's stock.

Russell Investments Group Ltd. raised its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 16.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,719 shares of the medical device company's stock after acquiring an additional 25,070 shares during the period. Russell Investments Group Ltd. owned about 0.37% of AtriCure worth $5,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 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. Adage Capital Partners GP L.L.C. acquired a new position in shares of AtriCure in the fourth quarter valued at approximately $9,168,000. Oberweis Asset Management Inc. acquired a new position in shares of AtriCure in the fourth quarter valued at approximately $4,630,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of AtriCure by 24.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock valued at $21,398,000 after buying an additional 136,015 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 price objective on shares of AtriCure in a research note on Wednesday, April 30th. UBS Group lowered their price objective on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Needham & Company LLC upped their price objective on AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Wall Street Zen raised AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, BTIG Research set a $54.00 price objective on AtriCure in a research note on Wednesday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $50.89.

Insiders Place Their Bets

In other AtriCure news, Director Sven Wehrwein sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $36.00, for a total transaction of $180,000.00. Following the transaction, the director directly owned 34,374 shares in the company, valued at approximately $1,237,464. This represents a 12.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Regina E. Groves sold 2,452 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,452 shares of company stock worth $445,333. Corporate insiders own 3.50% of the company's stock.

AtriCure Trading Up 5.4%

ATRC stock traded up $1.93 during trading on Friday, hitting $37.66. The company had a trading volume of 525,425 shares, compared to its average volume of 719,676. The business has a 50-day moving average of $33.05 and a 200-day moving average of $33.88. AtriCure, Inc. has a one year low of $24.48 and a one year high of $43.11. The stock has a market cap of $1.87 billion, a PE ratio of -48.91 and a beta of 1.61. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) EPS for the quarter, beating 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 business had revenue of $136.14 million for the quarter, compared to analysts' expectations of $130.17 million. During the same period in the prior year, the business posted ($0.17) earnings per share. The firm's revenue was up 17.1% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. Research analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

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.