Nebula Research & Development LLC Sells 9,703 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Nebula Research & Development LLC lessened its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 35.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,363 shares of the medical device company's stock after selling 9,703 shares during the period. Nebula Research & Development LLC's holdings in AtriCure were worth $531,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. grew its position in AtriCure by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock worth $1,569,000 after purchasing an additional 484 shares in the last quarter. Blue Trust Inc. lifted its position in AtriCure by 1.8% in the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after buying an additional 265 shares in the last quarter. KBC Group NV boosted its stake in shares of AtriCure by 65.3% during the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock valued at $72,000 after buying an additional 932 shares during the period. R Squared Ltd acquired a new stake in AtriCure during the fourth quarter valued at $89,000. Finally, Heck Capital Advisors LLC purchased a new position in AtriCure in the fourth quarter valued at about $60,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now directly owns 17,828 shares in the company, valued at $679,603.36. This trade represents a 25.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.50% of the company's stock.

AtriCure Price Performance

ATRC traded down $0.89 during midday trading on Monday, reaching $29.14. 166,593 shares of the company's stock were exchanged, compared to its average volume of 652,733. The business has a 50-day simple moving average of $33.57 and a two-hundred day simple moving average of $34.77. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -30.47 and a beta of 1.65. AtriCure, Inc. has a one year low of $18.94 and a one year high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $123.62 million during the quarter, compared to analysts' expectations of $122.92 million. During the same period last year, the firm posted ($0.28) EPS. The business's revenue was up 13.5% on a year-over-year basis. As a group, research analysts predict that AtriCure, Inc. will post -0.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ATRC shares. JMP Securities reissued a "market outperform" rating and issued a $60.00 price target on shares of AtriCure in a research note on Wednesday, April 30th. Needham & Company LLC reduced their price target on AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Oppenheimer increased their price objective on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. UBS Group reduced their target price on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.67.

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.