Envestnet Asset Management Inc. Boosts Stock Position in AtriCure, Inc. $ATRC

Envestnet Asset Management Inc. increased its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 3.2% during the 2nd quarter, Holdings Channel reports. The firm owned 58,460 shares of the medical device company’s stock after buying an additional 1,804 shares during the period. Envestnet Asset Management Inc.’s holdings in AtriCure were worth $1,916,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in AtriCure by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 4,714,371 shares of the medical device company’s stock worth $152,086,000 after buying an additional 61,166 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AtriCure by 170.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company’s stock valued at $70,872,000 after acquiring an additional 1,385,544 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of AtriCure by 26.3% during the first quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company’s stock valued at $38,365,000 after acquiring an additional 246,877 shares in the last quarter. Nuveen LLC purchased a new stake in AtriCure in the first quarter worth $30,666,000. Finally, Goldman Sachs Group Inc. boosted its holdings in AtriCure by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock valued at $27,830,000 after acquiring an additional 8,956 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity at AtriCure

In related news, Director Sven Wehrwein sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the transaction, the director owned 34,374 shares of the company’s stock, valued at $1,271,838. This trade represents a 12.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin J. Noznesky sold 3,000 shares of AtriCure stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.30, for a total value of $108,900.00. Following the transaction, the insider owned 83,964 shares of the company’s stock, valued at $3,047,893.20. The trade was a 3.45% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

ATRC has been the topic of a number of research analyst reports. BTIG Research set a $54.00 price objective on shares of AtriCure in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of AtriCure from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Needham & Company LLC increased 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. Citigroup restated a “market outperform” rating on shares of AtriCure in a report on Thursday, October 30th. Finally, Canaccord Genuity Group upped their target price on AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell 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 $52.22.

AtriCure Trading Up 0.1%

Shares of NASDAQ ATRC opened at $33.16 on Wednesday. AtriCure, Inc. has a 1 year low of $28.29 and a 1 year high of $43.11. The stock has a market cap of $1.65 billion, a P/E ratio of -54.36 and a beta of 1.56. The firm has a 50-day moving average of $35.09 and a 200 day moving average of $34.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.56%. The business had revenue of $134.27 million for the quarter, compared to analysts’ expectations of $131.25 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, sell-side analysts expect 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.