AtriCure, Inc. (NASDAQ:ATRC) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 11.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,535 shares of the medical device company’s stock after selling 3,158 shares during the period. Los Angeles Capital Management LLC owned 0.05% of AtriCure worth $559,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Comerica Bank lifted its position in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after buying an additional 1,043 shares during the period. Quest Partners LLC acquired a new position in shares of AtriCure during the 4th quarter valued at about $103,000. Virtu Financial LLC purchased a new position in shares of AtriCure during the 4th quarter worth about $213,000. Victory Capital Management Inc. boosted its position in shares of AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new stake in AtriCure in the first quarter valued at approximately $224,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BTIG Research decreased their price target on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reduced their target price on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC dropped their price target on AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their target price on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One research 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.com, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.44.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.

AtriCure Trading Up 1.8 %

NASDAQ ATRC opened at $28.21 on Friday. The stock has a market cap of $1.37 billion, a P/E ratio of -35.26 and a beta of 1.43. The company’s fifty day simple moving average is $23.99 and its 200-day simple moving average is $25.06. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $44.92.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) EPS. Equities research analysts predict that AtriCure, Inc. will post -0.77 EPS for the current fiscal year.

AtriCure 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.