Wellington Management Group LLP Lowers Stock Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Wellington Management Group LLP trimmed its position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 57.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 654,504 shares of the medical device company's stock after selling 889,392 shares during the period. Wellington Management Group LLP owned 1.34% of AtriCure worth $20,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in AtriCure in the 4th quarter worth approximately $60,000. Mackenzie Financial Corp purchased a new stake in shares of AtriCure in the 4th quarter valued at $465,000. State of Wyoming increased its stake in shares of AtriCure by 21.9% in the fourth 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 period. Sherbrooke Park Advisers LLC purchased a new position in shares of AtriCure during the fourth quarter worth $330,000. Finally, ProShare Advisors LLC lifted its position in AtriCure by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 13,330 shares of the medical device company's stock valued at $407,000 after purchasing an additional 4,385 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ATRC has been the subject of several recent research reports. BTIG Research reaffirmed a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Wall Street Zen cut shares of AtriCure from a "buy" rating to a "hold" rating in a report on Sunday. Oppenheimer increased their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Needham & Company LLC cut their price target on AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price target on AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.67.

Insider Activity

In related news, insider Vinayak Doraiswamy sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $33.44, for a total value of $83,600.00. Following the sale, the insider now owns 73,550 shares of the company's stock, valued at approximately $2,459,512. This represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.50% of the company's stock.

AtriCure Stock Performance

ATRC traded down $0.08 on Wednesday, reaching $34.65. The company had a trading volume of 124,761 shares, compared to its average volume of 647,578. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $43.11. The stock has a market capitalization of $1.72 billion, a PE ratio of -36.47 and a beta of 1.57. The stock has a 50-day moving average price of $32.31 and a 200-day moving average price of $34.67.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. The business had revenue of $123.62 million during the quarter, compared to the consensus estimate of $122.92 million. During the same period in the previous year, the business earned ($0.28) EPS. The business's quarterly revenue was up 13.5% on a year-over-year basis. As a group, research analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

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.