Larson Financial Group LLC Cuts Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Larson Financial Group LLC decreased its position in AtriCure, Inc. (NASDAQ:ATRC) by 19.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,633 shares of the medical device company’s stock after selling 4,399 shares during the period. Larson Financial Group LLC’s holdings in AtriCure were worth $665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATRC. RiverPark Advisors LLC purchased a new position in AtriCure in the third quarter valued at $27,000. Arcadia Investment Management Corp MI purchased a new stake in shares of AtriCure during the third quarter worth about $28,000. Allspring Global Investments Holdings LLC increased its stake in shares of AtriCure by 31.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock worth $91,000 after purchasing an additional 497 shares in the last quarter. HighMark Wealth Management LLC increased its stake in shares of AtriCure by 175.6% during the third quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company’s stock worth $124,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of AtriCure by 38.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,715 shares of the medical device company’s stock worth $382,000 after purchasing an additional 2,408 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the sale, the insider now directly owns 72,784 shares in the company, valued at approximately $2,211,905.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other AtriCure news, insider Karl S. Dahlquist sold 1,885 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $32.16, for a total value of $60,621.60. Following the sale, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $1,638,680.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the sale, the insider now directly owns 72,784 shares in the company, valued at $2,211,905.76. The disclosure for this sale can be found here. Insiders have sold a total of 13,116 shares of company stock worth $468,797 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

AtriCure Stock Up 2.0 %

NASDAQ:ATRC opened at $23.17 on Wednesday. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $30.44 and its two-hundred day moving average is $33.92. AtriCure, Inc. has a 1-year low of $22.27 and a 1-year high of $59.61.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. The company had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. AtriCure’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. As a group, equities analysts anticipate that AtriCure, Inc. will post -0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ATRC has been the subject of a number of research reports. StockNews.com cut shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Needham & Company LLC reissued a “buy” rating and set a $46.00 target price on shares of AtriCure in a research note on Wednesday, April 10th. Oppenheimer raised shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Tuesday. UBS Group upped their price objective on shares of AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus dropped their price objective on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.63.

AtriCure 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.