The Manufacturers Life Insurance Company acquired a new stake in AtriCure, Inc. (NASDAQ:ATRC – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,985 shares of the medical device company’s stock, valued at approximately $699,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of AtriCure by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,903,755 shares of the medical device company’s stock worth $193,993,000 after acquiring an additional 62,861 shares during the last quarter. BlackRock Inc. acquired a new stake in AtriCure during the 2nd quarter valued at $125,198,000. Wellington Management Group LLP boosted its position in AtriCure by 8.1% during the third quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock worth $151,296,000 after purchasing an additional 322,818 shares during the period. First Light Asset Management LLC boosted its position in AtriCure by 32.0% during the fourth quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock worth $46,501,000 after purchasing an additional 285,083 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of AtriCure by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 997,759 shares of the medical device company’s stock valued at $28,466,000 after purchasing an additional 75,862 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Citigroup reissued a “market outperform” rating on shares of AtriCure in a research report on Tuesday, July 21st. Zacks Research lowered shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Raymond James Financial set a $52.00 price target on shares of AtriCure in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of AtriCure from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Finally, BTIG Research upped their target price on AtriCure from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.00.
Insider Activity at AtriCure
In other news, Director Karen Prange sold 3,564 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $38.80, for a total transaction of $138,283.20. Following the completion of the transaction, the director directly owned 22,809 shares in the company, valued at approximately $884,989.20. This represents a 13.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl Dahlquist sold 9,370 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $48.89, for a total value of $458,099.30. Following the completion of the transaction, the insider directly owned 87,319 shares of the company’s stock, valued at $4,269,025.91. This represents a 9.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 61,379 shares of company stock worth $2,557,552 in the last ninety days. Insiders own 4.00% of the company’s stock.
AtriCure Stock Performance
NASDAQ:ATRC opened at $51.52 on Monday. AtriCure, Inc. has a fifty-two week low of $25.36 and a fifty-two week high of $53.50. The stock has a fifty day moving average price of $40.10 and a 200-day moving average price of $32.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 4.22. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 245.35 and a beta of 1.26.
AtriCure (NASDAQ:ATRC – Get Free Report) last released its earnings results on Thursday, July 23rd. The medical device company reported $0.18 EPS for the quarter. The firm had revenue of $153.60 million for the quarter, compared to analyst estimates of $151.80 million. AtriCure had a net margin of 1.85% and a return on equity of 2.34%. During the same period last year, the firm earned ($0.13) EPS. AtriCure has set its FY 2026 guidance at 0.240-0.320 EPS. As a group, equities analysts anticipate that AtriCure, Inc. will post 0.29 EPS for the current fiscal year.
AtriCure Profile
AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.
The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.
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