Vanguard Group Inc. Boosts Stock Position in AtriCure, Inc. $ATRC

Key Points

• Vanguard Group Inc. has increased its holdings in AtriCure, Inc. by 1.3%, now owning approximately 9.52% of the company, valued at $152.09 million.
• AtriCure's stock saw a 0.6% increase, with a current trading price of $36.07, while also displaying a 1-year range of $23.27 to $43.11.
• AtriCure reported a revenue increase of 17.1% year-over-year, with earnings per share beating analysts' expectations, indicating potential growth as analysts maintain a “Buy” rating for the stock.

Vanguard Group Inc. increased its position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,714,371 shares of the medical device company's stock after purchasing an additional 61,166 shares during the period. Vanguard Group Inc. owned approximately 9.52% of AtriCure worth $152,086,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC bought a new position in AtriCure during the 1st quarter valued at about $19,139,000. Adage Capital Partners GP L.L.C. bought a new position in AtriCure during the 4th quarter valued at about $9,168,000. Oberweis Asset Management Inc. bought a new position in AtriCure during the 4th quarter valued at about $4,630,000. Dimensional Fund Advisors LP lifted its stake in AtriCure by 24.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock valued at $21,398,000 after acquiring an additional 136,015 shares during the period. Finally, Raymond James Financial Inc. bought a new position in AtriCure during the 4th quarter valued at about $3,716,000. Institutional investors own 99.11% of the company's stock.

AtriCure Stock Performance

NASDAQ ATRC traded up $1.93 on Friday, reaching $37.66. 525,425 shares of the stock were exchanged, compared to its average volume of 719,676. AtriCure, Inc. has a one year low of $24.48 and a one year high of $43.11. The firm has a market capitalization of $1.87 billion, a PE ratio of -48.91 and a beta of 1.61. The company's 50-day simple moving average is $33.05 and its two-hundred day simple moving average is $33.88. 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 released its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) EPS for the quarter, topping 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 company had revenue of $136.14 million for the quarter, compared to analysts' expectations of $130.17 million. During the same quarter last year, the business earned ($0.17) EPS. The firm's 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. Analysts expect that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $36.58, for a total transaction of $91,450.00. Following the completion of the sale, the insider directly owned 71,872 shares of the company's stock, valued at $2,629,077.76. This trade represents a 3.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sven Wehrwein sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $36.00, for a total transaction of $180,000.00. Following the sale, the director directly owned 34,374 shares of the company's stock, valued at approximately $1,237,464. This trade represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,452 shares of company stock worth $445,333. Company insiders own 3.50% of the company's stock.

Analyst Ratings Changes

ATRC has been the topic of several research analyst reports. JMP Securities restated a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a research note on Wednesday, April 30th. BTIG Research set a $54.00 price target on shares of AtriCure in a research report on Wednesday, July 30th. UBS Group lowered their price objective 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. Wall Street Zen upgraded shares of AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Needham & Company LLC increased their price objective 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. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $50.89.

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.