Two Sigma Investments LP Sells 106,788 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Two Sigma Investments LP lowered its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 14.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 610,996 shares of the medical device company’s stock after selling 106,788 shares during the quarter. Two Sigma Investments LP owned approximately 1.25% of AtriCure worth $18,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ATRC. Johnson Financial Group Inc. lifted its position in AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock valued at $49,000 after purchasing an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of AtriCure in the fourth quarter worth about $60,000. Venturi Wealth Management LLC lifted its position in shares of AtriCure by 1,337.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock valued at $69,000 after buying an additional 2,100 shares in the last quarter. KBC Group NV grew its stake in shares of AtriCure by 65.3% during the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock valued at $72,000 after acquiring an additional 932 shares during the period. Finally, State of Wyoming increased its holdings in AtriCure by 21.9% in the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock worth $76,000 after acquiring an additional 446 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. The trade was a 25.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ATRC shares. JPMorgan Chase & Co. lowered their price target on shares of AtriCure from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Piper Sandler lifted their target price on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. UBS Group dropped their target price on shares of AtriCure from $60.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Canaccord Genuity Group decreased their price target on AtriCure from $66.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, Needham & Company LLC lowered their price objective on AtriCure from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

AtriCure Stock Down 1.4%

ATRC opened at $32.81 on Friday. The company has a market capitalization of $1.62 billion, a PE ratio of -34.54 and a beta of 1.57. The firm has a 50-day simple moving average of $32.40 and a two-hundred day simple moving average of $34.84. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $43.11.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The company had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.28) earnings per share. Analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

AtriCure Company 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.