Connor Clark & Lunn Investment Management Ltd. Raises Holdings in AtriCure, Inc. $ATRC

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 18.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,344 shares of the medical device company’s stock after buying an additional 40,775 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.53% of AtriCure worth $8,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. US Bancorp DE raised its position in shares of AtriCure by 98.1% in the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company’s stock worth $51,000 after acquiring an additional 789 shares in the last quarter. CWM LLC grew its stake in AtriCure by 46.2% in the first quarter. CWM LLC now owns 2,818 shares of the medical device company’s stock valued at $91,000 after purchasing an additional 891 shares during the last quarter. Strs Ohio bought a new position in AtriCure in the first quarter worth about $158,000. Entropy Technologies LP bought a new position in AtriCure in the first quarter worth about $225,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of AtriCure during the first quarter valued at about $230,000. Institutional investors own 99.11% of the company’s stock.

AtriCure Stock Performance

ATRC opened at $33.06 on Thursday. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. AtriCure, Inc. has a 12-month low of $28.29 and a 12-month high of $43.11. The firm has a 50 day moving average of $35.33 and a two-hundred day moving average of $33.96. The firm has a market capitalization of $1.64 billion, a PE ratio of -54.20 and a beta of 1.56.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.56%. The business had revenue of $134.27 million for the quarter, compared to the consensus estimate of $131.25 million. During the same period in the prior year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. On average, analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Activity

In other AtriCure news, Director Sven Wehrwein sold 5,000 shares of AtriCure stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $37.00, for a total transaction of $185,000.00. Following the completion of the transaction, the director owned 34,374 shares in the company, valued at approximately $1,271,838. This trade represents a 12.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Justin J. Noznesky sold 3,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.30, for a total value of $108,900.00. Following the completion of the transaction, the insider directly owned 83,964 shares of the company’s stock, valued at approximately $3,047,893.20. This trade represents a 3.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,000 shares of company stock worth $473,900 over the last ninety days. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ATRC shares. Wall Street Zen raised shares of AtriCure from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, October 8th. BTIG Research set a $54.00 price objective on AtriCure in a report on Wednesday, July 30th. Needham & Company LLC raised their price objective on AtriCure from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Finally, Canaccord Genuity Group upped their target price on AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.22.

About AtriCure

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.