US Bancorp DE Raises Stake in AtriCure, Inc. (ATRC)
US Bancorp DE raised its position in AtriCure, Inc. (NASDAQ:ATRC) by 152.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,202 shares of the medical device company’s stock after buying an additional 2,535 shares during the period. US Bancorp DE’s holdings in AtriCure were worth $102,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in ATRC. Wells Fargo & Company MN increased its position in AtriCure by 131.9% in the first quarter. Wells Fargo & Company MN now owns 112,006 shares of the medical device company’s stock worth $2,145,000 after buying an additional 63,711 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in AtriCure during the first quarter worth approximately $329,000. Bank of Montreal Can increased its position in AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock worth $200,000 after buying an additional 128 shares in the last quarter. Swiss National Bank increased its position in AtriCure by 7.0% in the first quarter. Swiss National Bank now owns 54,700 shares of the medical device company’s stock worth $1,048,000 after buying an additional 3,600 shares in the last quarter. Finally, Keybank National Association OH increased its position in AtriCure by 5.1% in the first quarter. Keybank National Association OH now owns 38,902 shares of the medical device company’s stock worth $745,000 after buying an additional 1,905 shares in the last quarter. 82.07% of the stock is owned by hedge funds and other institutional investors.
AtriCure, Inc. (ATRC) traded up 2.27% during midday trading on Thursday, reaching $22.50. The company’s stock had a trading volume of 44,233 shares. The firm has a 50 day moving average price of $23.25 and a 200 day moving average price of $20.98. The firm’s market capitalization is $772.52 million. AtriCure, Inc. has a 1-year low of $14.50 and a 1-year high of $25.18.
AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Thursday, July 27th. The medical device company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. AtriCure had a negative return on equity of 19.56% and a negative net margin of 19.56%. The firm had revenue of $45.23 million for the quarter, compared to analysts’ expectations of $44.15 million. During the same period in the prior year, the business posted ($0.26) earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. On average, analysts predict that AtriCure, Inc. will post ($0.95) EPS for the current year.
ATRC has been the subject of a number of research reports. Zacks Investment Research downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price (up from $23.00) on shares of AtriCure in a research note on Friday, May 5th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $26.00 target price on shares of AtriCure in a research note on Tuesday, May 30th. Leerink Swann reiterated an “outperform” rating and issued a $26.00 target price on shares of AtriCure in a research note on Friday, June 16th. Finally, ValuEngine upgraded AtriCure from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $25.00.
In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $22.40, for a total value of $224,000.00. Following the sale, the director now directly owns 29,967 shares in the company, valued at $671,260.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.00% of the company’s stock.
AtriCure Company Profile
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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