Wells Fargo & Company MN Has $1.75 Million Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Wells Fargo & Company MN trimmed its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 39.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,407 shares of the medical device company's stock after selling 37,874 shares during the period. Wells Fargo & Company MN owned about 0.12% of AtriCure worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Astra Wealth Partners LLC acquired a new stake in AtriCure during the 4th quarter worth about $246,000. Bryce Point Capital LLC bought a new stake in shares of AtriCure in the 4th quarter worth approximately $512,000. Trexquant Investment LP lifted its stake in AtriCure by 27.0% in the fourth quarter. Trexquant Investment LP now owns 98,206 shares of the medical device company's stock worth $3,001,000 after purchasing an additional 20,875 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in AtriCure during the fourth quarter valued at about $816,000. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of AtriCure by 9.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 44,584 shares of the medical device company's stock worth $1,362,000 after buying an additional 3,963 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Price Performance

AtriCure stock traded down $0.95 during midday trading on Thursday, reaching $28.96. 285,660 shares of the company were exchanged, compared to its average volume of 662,051. The firm's 50-day simple moving average is $33.95 and its 200-day simple moving average is $34.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $43.11. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -30.43 and a beta of 1.65.

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

Insider Transactions at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now directly owns 17,828 shares in the company, valued at $679,603.36. The trade was a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.50% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Piper Sandler raised their price objective on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Oppenheimer increased their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC dropped their price target on shares of AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.