Diversified Trust Co raised its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 26.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,250 shares of the medical device company’s stock after buying an additional 2,125 shares during the quarter. Diversified Trust Co’s holdings in AtriCure were worth $409,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. FMR LLC increased its holdings in AtriCure by 34.6% in the 2nd quarter. FMR LLC now owns 4,766,815 shares of the medical device company’s stock valued at $214,268,000 after buying an additional 1,224,476 shares during the period. Vanguard Group Inc. boosted its stake in shares of AtriCure by 10.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,268,168 shares of the medical device company’s stock valued at $101,953,000 after purchasing an additional 223,748 shares in the last quarter. Invesco Ltd. boosted its stake in shares of AtriCure by 348.9% in the 1st quarter. Invesco Ltd. now owns 1,535,792 shares of the medical device company’s stock valued at $51,587,000 after purchasing an additional 1,193,689 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of AtriCure in the 1st quarter valued at $42,438,000. Finally, Orbimed Advisors LLC boosted its stake in shares of AtriCure by 32.3% in the 2nd quarter. Orbimed Advisors LLC now owns 1,228,189 shares of the medical device company’s stock valued at $55,207,000 after purchasing an additional 300,000 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
ATRC has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of AtriCure from $48.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. BTIG Research reiterated a “buy” rating and set a $56.00 price target on shares of AtriCure in a research report on Tuesday, July 28th. Piper Sandler upped their price target on shares of AtriCure from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. SVB Leerink upped their price target on shares of AtriCure from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, ValuEngine upgraded shares of AtriCure from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $51.63.
AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, July 28th. The medical device company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. AtriCure had a negative net margin of 23.64% and a negative return on equity of 19.55%. The company had revenue of $40.82 million for the quarter, compared to the consensus estimate of $36.07 million. During the same period in the prior year, the company posted ($0.17) EPS. The company’s revenue was down 30.7% compared to the same quarter last year. Research analysts forecast that AtriCure, Inc. will post -1.3 EPS for the current year.
In other news, Director Mark A. Collar sold 2,330 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $40.00, for a total value of $93,200.00. Following the completion of the sale, the director now owns 78,558 shares of the company’s stock, valued at approximately $3,142,320. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Douglas J. Seith sold 29,161 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $40.09, for a total value of $1,169,064.49. Following the completion of the sale, the chief operating officer now directly owns 129,497 shares of the company’s stock, valued at approximately $5,191,534.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,474 shares of company stock valued at $1,553,271. 5.80% of the stock is currently owned by company insiders.
AtriCure Company Profile
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.
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