Acutus Medical, Inc. (NASDAQ:AFIB) Stock Position Raised by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC lifted its stake in shares of Acutus Medical, Inc. (NASDAQ:AFIB) by 33.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 80,000 shares of the company’s stock after acquiring an additional 20,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in Acutus Medical were worth $1,358,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AFIB. BlackRock Inc. boosted its position in shares of Acutus Medical by 40.6% in the first quarter. BlackRock Inc. now owns 920,501 shares of the company’s stock worth $12,308,000 after buying an additional 265,946 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Acutus Medical in the first quarter worth $43,000. UBS Group AG boosted its position in shares of Acutus Medical by 58.4% in the first quarter. UBS Group AG now owns 44,259 shares of the company’s stock worth $592,000 after buying an additional 16,323 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Acutus Medical by 192.0% in the first quarter. JPMorgan Chase & Co. now owns 20,366 shares of the company’s stock worth $272,000 after buying an additional 13,392 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Acutus Medical by 38.6% in the first quarter. Geode Capital Management LLC now owns 220,949 shares of the company’s stock worth $2,954,000 after buying an additional 61,516 shares during the period. 67.87% of the stock is owned by institutional investors and hedge funds.

NASDAQ AFIB traded down $0.37 during trading on Thursday, reaching $8.60. 4,330 shares of the company traded hands, compared to its average volume of 336,182. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.89 and a current ratio of 5.72. The stock’s 50 day moving average price is $11.29 and its two-hundred day moving average price is $13.56. The company has a market cap of $297.63 million and a price-to-earnings ratio of -1.77. Acutus Medical, Inc. has a 1-year low of $7.55 and a 1-year high of $34.35.

Acutus Medical (NASDAQ:AFIB) last announced its earnings results on Wednesday, August 11th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.02). Acutus Medical had a negative return on equity of 100.30% and a negative net margin of 844.29%. The business had revenue of $4.71 million during the quarter, compared to analyst estimates of $4.65 million. Equities research analysts expect that Acutus Medical, Inc. will post -3.69 EPS for the current fiscal year.

Several analysts recently issued reports on the company. Zacks Investment Research lowered Acutus Medical from a “buy” rating to a “hold” rating in a report on Wednesday, July 14th. Canaccord Genuity upgraded Acutus Medical from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, July 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Acutus Medical presently has a consensus rating of “Hold” and an average price target of $20.60.

In related news, Director Orbimed Advisors Llc acquired 1,071,428 shares of the company’s stock in a transaction that occurred on Monday, July 19th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $14,999,992.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 24.40% of the company’s stock.

About Acutus Medical

Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. Its product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.

Further Reading: Why are analyst ratings important in trading stocks?

Want to see what other hedge funds are holding AFIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acutus Medical, Inc. (NASDAQ:AFIB).

Institutional Ownership by Quarter for Acutus Medical (NASDAQ:AFIB)

Receive News & Ratings for Acutus Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acutus Medical and related companies with MarketBeat.com's FREE daily email newsletter.