Victory Capital Management Inc. Invests $1.85 Million in AtriCure, Inc. (NASDAQ:ATRC)

Victory Capital Management Inc. purchased a new position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 57,239 shares of the medical device company's stock, valued at approximately $1,847,000. Victory Capital Management Inc. owned approximately 0.12% of AtriCure as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its position in shares of AtriCure by 135.3% during the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after purchasing an additional 832 shares in the last quarter. Johnson Financial Group Inc. increased its stake in shares of AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after purchasing an additional 1,492 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of AtriCure during the 4th quarter worth about $60,000. State of Wyoming increased its stake in shares of AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after purchasing an additional 446 shares during the last quarter. Finally, CWM LLC increased its stake in shares of AtriCure by 46.2% during the 1st quarter. CWM LLC now owns 2,818 shares of the medical device company's stock worth $91,000 after purchasing an additional 891 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Transactions at AtriCure

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $33.44, for a total value of $83,600.00. Following the completion of the transaction, the insider directly owned 73,550 shares in the company, valued at approximately $2,459,512. This represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.50% of the company's stock.

AtriCure Price Performance

ATRC stock traded down $0.69 during trading on Friday, reaching $34.41. 730,309 shares of the company were exchanged, compared to its average volume of 592,016. The company has a 50-day moving average of $32.33 and a two-hundred day moving average of $34.32. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -44.69 and a beta of 1.56. AtriCure, Inc. has a twelve month low of $20.20 and a twelve month high of $43.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.11 and a quick ratio of 2.88.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.13. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.21%. The firm 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 posted ($0.17) EPS. The company's revenue was up 17.1% on a year-over-year basis. As a group, equities analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ATRC has been the topic of several recent analyst reports. JMP Securities restated a "market outperform" rating and set a $60.00 price objective on shares of AtriCure in a research note on Wednesday, April 30th. Needham & Company LLC lifted their target price on shares of AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday. Wall Street Zen downgraded shares of AtriCure from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. UBS Group reduced their target price on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, BTIG Research set a $54.00 price objective on shares of AtriCure in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, AtriCure presently has an average rating of "Moderate Buy" and an average price target 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.