Voloridge Investment Management LLC Sells 129,258 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Voloridge Investment Management LLC decreased its stake in AtriCure, Inc. (NASDAQ:ATRC) by 33.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 260,412 shares of the medical device company’s stock after selling 129,258 shares during the quarter. Voloridge Investment Management LLC’s holdings in AtriCure were worth $7,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of AtriCure by 1.8% during the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock valued at $414,000 after purchasing an additional 265 shares in the last quarter. Invesco Ltd. lifted its position in shares of AtriCure by 0.8% in the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock worth $1,334,000 after purchasing an additional 334 shares in the last quarter. Perkins Capital Management Inc. lifted its position in shares of AtriCure by 1.3% in the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock worth $927,000 after purchasing an additional 400 shares in the last quarter. Truist Financial Corp boosted its holdings in AtriCure by 2.6% during the fourth quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after purchasing an additional 403 shares during the last quarter. Finally, State of Wyoming boosted its holdings in AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock worth $76,000 after purchasing an additional 446 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Oppenheimer lifted their price target on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group lowered their target price on AtriCure from $66.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Stifel Nicolaus increased their price target on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. UBS Group decreased their price target on AtriCure from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Wednesday, April 30th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $50.67.

AtriCure Price Performance

Shares of NASDAQ ATRC opened at $32.71 on Monday. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $32.38 and its two-hundred day moving average price is $34.78. The company has a market cap of $1.62 billion, a PE ratio of -34.43 and a beta of 1.57. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.11.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.11. The company had revenue of $123.62 million during the quarter, compared to the consensus estimate 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 for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.28) EPS. On average, analysts predict that AtriCure, Inc. will post -0.6 EPS for the current year.

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.