AtriCure, Inc. $ATRC Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its position in AtriCure, Inc. (NASDAQ:ATRC) by 69.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,200 shares of the medical device company’s stock after selling 12,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in AtriCure were worth $292,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Man Group plc purchased a new stake in shares of AtriCure in the second quarter worth about $684,000. Bank of America Corp DE raised its position in AtriCure by 13.7% during the first quarter. Bank of America Corp DE now owns 768,561 shares of the medical device company’s stock valued at $21,927,000 after acquiring an additional 92,830 shares in the last quarter. WINTON GROUP Ltd acquired a new position in AtriCure in the second quarter valued at approximately $1,002,000. The Manufacturers Life Insurance Company acquired a new position in AtriCure in the second quarter valued at approximately $699,000. Finally, Jupiter Topco LLC acquired a new position in AtriCure in the second quarter valued at approximately $640,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AtriCure

In other AtriCure news, insider Salvatore Privitera sold 8,404 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $65.00, for a total transaction of $546,260.00. Following the completion of the transaction, the insider directly owned 134,341 shares in the company, valued at approximately $8,732,165. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karl S. Dahlquist sold 9,370 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $48.89, for a total transaction of $458,099.30. Following the transaction, the insider owned 87,319 shares of the company’s stock, valued at $4,269,025.91. This represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 39,026 shares of company stock valued at $2,172,263. 4.00% of the stock is owned by company insiders.

AtriCure Stock Performance

Shares of ATRC stock opened at $58.54 on Friday. The company has a current ratio of 4.33, a quick ratio of 3.19 and a debt-to-equity ratio of 0.17. AtriCure, Inc. has a 12-month low of $25.36 and a 12-month high of $66.02. The business’s 50 day moving average is $56.81 and its two-hundred day moving average is $38.73. The company has a market capitalization of $2.98 billion, a P/E ratio of 195.14 and a beta of 1.23.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, November 3rd. The medical device company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The business had revenue of $154.45 million during the quarter, compared to analysts’ expectations of $151.05 million. AtriCure had a return on equity of 4.01% and a net margin of 2.52%. Analysts expect that AtriCure, Inc. will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler restated an “overweight” rating and issued a $70.00 price objective (up from $60.00) on shares of AtriCure in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of AtriCure from $36.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday. Needham & Company LLC boosted their target price on shares of AtriCure from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday. Freedom Capital downgraded shares of AtriCure from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, Zacks Research upgraded shares of AtriCure from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.80.

AtriCure Company Profile

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.