AtriCure, Inc. $ATRC Shares Sold by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP lessened its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 82.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,959 shares of the medical device company’s stock after selling 27,731 shares during the period. Divisadero Street Capital Management LP’s holdings in AtriCure were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of 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 buying an additional 322,818 shares during the period. Kennedy Capital Management LLC increased its position in shares of AtriCure by 36.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock valued at $29,501,000 after acquiring an additional 222,529 shares during the period. First Trust Advisors LP purchased a new position in AtriCure in the 2nd quarter worth $4,353,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in AtriCure by 121.9% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 201,214 shares of the medical device company’s stock worth $6,594,000 after acquiring an additional 110,521 shares during the period. Finally, Bank of America Corp DE lifted its position in AtriCure by 15.7% during the 2nd quarter. Bank of America Corp DE now owns 710,173 shares of the medical device company’s stock worth $23,272,000 after acquiring an additional 96,313 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at AtriCure

In other news, insider Vinayak Doraiswamy sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $29.83, for a total transaction of $149,150.00. Following the sale, the insider owned 96,875 shares of the company’s stock, valued at $2,889,781.25. This trade represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group cut their price objective on AtriCure from $64.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. UBS Group decreased their target price on AtriCure from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Oppenheimer lowered AtriCure from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. downgraded shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Wednesday, February 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of AtriCure in a research report on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.43.

AtriCure Stock Performance

Shares of ATRC stock opened at $30.44 on Tuesday. AtriCure, Inc. has a 52-week low of $28.29 and a 52-week high of $43.18. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.52 billion, a PE ratio of -126.83 and a beta of 1.42. The business has a 50-day simple moving average of $35.05 and a 200-day simple moving average of $36.05.

AtriCure (NASDAQ:ATRC) last posted 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. The firm had revenue of $140.50 million for the quarter, compared to analyst estimates of $140.50 million. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.AtriCure’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the company earned ($0.33) earnings per share. On average, equities analysts expect that AtriCure, Inc. will post -0.6 EPS for the current year.

About AtriCure

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.