Perkins Capital Management Inc. Sells 450 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Perkins Capital Management Inc. reduced its stake in AtriCure, Inc. (NASDAQ:ATRC) by 1.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 29,900 shares of the medical device company’s stock after selling 450 shares during the quarter. Perkins Capital Management Inc.’s holdings in AtriCure were worth $965,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ATRC. First Horizon Advisors Inc. raised its position in AtriCure by 135.3% in the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company’s stock worth $47,000 after acquiring an additional 832 shares during the period. Johnson Financial Group Inc. increased its stake in shares of AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after purchasing an additional 1,492 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of AtriCure in the 4th quarter worth approximately $60,000. State of Wyoming raised its stake in shares of AtriCure by 21.9% in the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock valued at $76,000 after buying an additional 446 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in AtriCure by 232.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company’s stock valued at $88,000 after acquiring an additional 2,008 shares during the period. Institutional investors own 99.11% of the company’s stock.

AtriCure Trading Up 4.4%

Shares of ATRC opened at $31.50 on Friday. The stock has a market capitalization of $1.56 billion, a P/E ratio of -38.89 and a beta of 1.56. AtriCure, Inc. has a twelve month low of $20.20 and a twelve month high of $43.11. The company has a quick ratio of 2.88, a current ratio of 4.11 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $32.28 and a two-hundred day simple moving average of $34.31.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. AtriCure had a negative net margin of 7.95% and a negative return on equity of 5.68%. The company had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. During the same period in the prior year, the business posted ($0.28) earnings per share. AtriCure’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ATRC shares. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research report on Wednesday, April 30th. UBS Group dropped their target price on shares of AtriCure from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Wall Street Zen cut AtriCure from a “buy” rating to a “hold” rating in a report on Sunday, June 1st. Finally, Needham & Company LLC cut their price objective on shares of AtriCure from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and an average price target of $50.67.

Insiders Place Their Bets

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $33.44, for a total transaction of $83,600.00. Following the transaction, the insider directly owned 73,550 shares of the company’s stock, valued at approximately $2,459,512. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

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.