Russell Investments Group Ltd. Purchases 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. increased its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 16.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.37% of AtriCure worth $5,862,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ATRC. LPL Financial LLC boosted its stake in AtriCure by 5.4% during the fourth quarter. LPL Financial LLC now owns 11,465 shares of the medical device company's stock worth $350,000 after acquiring an additional 584 shares in the last quarter. Invesco Ltd. boosted its stake in AtriCure by 0.8% during the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock worth $1,334,000 after acquiring an additional 334 shares in the last quarter. Raymond James Financial Inc. bought a new stake in AtriCure during the fourth quarter worth about $3,716,000. Canada Pension Plan Investment Board boosted its stake in AtriCure by 756.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 35,100 shares of the medical device company's stock worth $1,073,000 after acquiring an additional 31,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in AtriCure by 24.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock worth $21,398,000 after acquiring an additional 136,015 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at AtriCure

In other AtriCure news, Director Sven Wehrwein sold 5,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 approximately $1,271,838. This represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Regina E. Groves sold 2,452 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $36.82, for a total transaction of $90,282.64. Following the sale, the director directly owned 33,715 shares of the company's stock, valued at approximately $1,241,386.30. This represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,452 shares of company stock valued at $630,333. Insiders own 3.50% of the company's stock.

AtriCure Stock Performance

ATRC stock traded up $0.03 during midday trading on Tuesday, reaching $37.87. 294,519 shares of the company's stock traded hands, compared to its average volume of 666,110. AtriCure, Inc. has a 52-week low of $25.24 and a 52-week high of $43.11. The stock has a market cap of $1.88 billion, a P/E ratio of -49.18 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. The stock's 50-day moving average is $33.27 and its 200 day moving average is $33.83.

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 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 business had revenue of $136.14 million during the quarter, compared to analysts' expectations of $130.17 million. During the same period in the prior year, the company earned ($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. As a group, analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current year.

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.