First Light Asset Management LLC Sells 124,808 Shares of AtriCure, Inc. $ATRC

First Light Asset Management LLC trimmed its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 890,362 shares of the medical device company’s stock after selling 124,808 shares during the period. AtriCure makes up 3.0% of First Light Asset Management LLC’s portfolio, making the stock its 12th biggest holding. First Light Asset Management LLC owned approximately 1.79% of AtriCure worth $31,385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in AtriCure by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,181,737 shares of the medical device company’s stock valued at $38,731,000 after purchasing an additional 14,577 shares during the period. Riverwater Partners LLC grew its holdings in AtriCure by 79.2% in the 3rd quarter. Riverwater Partners LLC now owns 60,322 shares of the medical device company’s stock valued at $2,126,000 after buying an additional 26,657 shares during the last quarter. Squarepoint Ops LLC increased its position in AtriCure by 64.7% in the 2nd quarter. Squarepoint Ops LLC now owns 186,965 shares of the medical device company’s stock worth $6,127,000 after buying an additional 73,468 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in AtriCure in the 2nd quarter worth approximately $284,000. Finally, Citigroup Inc. lifted its holdings in shares of AtriCure by 182.0% during the third quarter. Citigroup Inc. now owns 57,085 shares of the medical device company’s stock worth $2,012,000 after buying an additional 36,839 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Stock Performance

ATRC opened at $29.84 on Monday. The stock’s 50 day simple moving average is $35.25 and its 200-day simple moving average is $36.10. The company has a current ratio of 3.96, a quick ratio of 2.99 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.49 billion, a PE ratio of -124.33 and a beta of 1.42. AtriCure, Inc. has a 1 year low of $28.29 and a 1 year high of $43.18.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The firm had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $140.50 million. During the same period last year, the business earned ($0.33) earnings per share. AtriCure’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ATRC. JPMorgan Chase & Co. downgraded shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research note on Wednesday, February 11th. Citigroup reiterated an “outperform” rating on shares of AtriCure in a research note on Wednesday, February 18th. Canaccord Genuity Group reduced their price target on shares of AtriCure from $64.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Citizens Jmp decreased their price target on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 18th. Finally, Oppenheimer downgraded shares of AtriCure from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

AtriCure Company 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.