Wellington Management Group LLP Grows Position in AtriCure, Inc. $ATRC

Key Points

• Wellington Management Group LLP increased its stake in AtriCure by 7.3%, acquiring an additional 47,551 shares, bringing its total ownership to 702,055 shares valued at approximately $22.6 million.
• Insider transactions revealed significant share sales, with director Sven Wehrwein selling 5,000 shares for $180,000, resulting in a 12.70% decrease in their position.
• Several brokerages have set optimistic target prices for AtriCure, with Needham & Company raising its target to $45.00, reflecting a consensus of a Buy rating from nine analysts.

Wellington Management Group LLP raised its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 702,055 shares of the medical device company's stock after buying an additional 47,551 shares during the period. Wellington Management Group LLP owned about 1.42% of AtriCure worth $22,648,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in AtriCure by 0.8% during the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock valued at $1,334,000 after buying an additional 334 shares during the last quarter. State of Wyoming boosted 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 acquiring an additional 446 shares during the last quarter. US Bancorp DE boosted its stake in shares of AtriCure by 98.1% during the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after acquiring an additional 789 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of AtriCure by 135.3% during the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after acquiring an additional 832 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of AtriCure by 13.0% during the 1st quarter. Parallel Advisors LLC now owns 7,229 shares of the medical device company's stock worth $233,000 after acquiring an additional 833 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AtriCure

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $36.58, for a total value 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 represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Regina E. Groves sold 2,452 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total transaction of $90,282.64. Following the completion of the sale, the director directly owned 33,715 shares of the company's stock, valued at approximately $1,241,386.30. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,952 shares of company stock valued at $546,733 over the last three months. Corporate insiders own 3.50% of the company's stock.

AtriCure Price Performance

Shares of NASDAQ ATRC traded down $0.23 during midday trading on Friday, reaching $36.99. The stock had a trading volume of 334,377 shares, compared to its average volume of 460,548. The stock has a 50-day moving average of $33.61 and a 200-day moving average of $33.69. 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 company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -48.04 and a beta of 1.62. AtriCure, Inc. has a 12-month low of $25.26 and a 12-month high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.13. The firm had revenue of $136.14 million during the quarter, compared to analysts' expectations of $130.17 million. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, research analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BTIG Research set a $54.00 price target on shares of AtriCure in a research note on Wednesday, July 30th. Needham & Company LLC lifted their price target 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. 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, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $50.89.

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.