Royce & Associates LP Reduces Stake in AtriCure, Inc. (ATRC)
Royce & Associates LP cut its position in AtriCure, Inc. (NASDAQ:ATRC) by 18.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,300 shares of the medical device company’s stock after selling 61,000 shares during the period. Royce & Associates LP’s holdings in AtriCure were worth $5,138,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of ATRC. Teachers Advisors LLC raised its stake in shares of AtriCure by 7.5% in the first quarter. Teachers Advisors LLC now owns 77,020 shares of the medical device company’s stock worth $1,475,000 after buying an additional 5,352 shares during the period. FMR LLC raised its stake in shares of AtriCure by 2.7% in the first quarter. FMR LLC now owns 4,950,000 shares of the medical device company’s stock worth $94,793,000 after buying an additional 130,000 shares during the period. Wellington Management Group LLP raised its stake in shares of AtriCure by 5.6% in the first quarter. Wellington Management Group LLP now owns 3,313,575 shares of the medical device company’s stock worth $63,456,000 after buying an additional 176,025 shares during the period. OppenheimerFunds Inc. bought a new stake in shares of AtriCure during the first quarter worth about $561,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of AtriCure during the first quarter worth about $323,000. Institutional investors and hedge funds own 86.46% of the company’s stock.
AtriCure, Inc. (ATRC) traded up 0.57% during trading on Tuesday, hitting $22.82. 19,275 shares of the stock traded hands. The stock’s market cap is $774.65 million. AtriCure, Inc. has a one year low of $13.45 and a one year high of $23.95. The company has a 50-day moving average price of $21.53 and a 200 day moving average price of $19.03.
AtriCure (NASDAQ:ATRC) last announced its earnings results on Thursday, May 4th. The medical device company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.01. AtriCure had a negative return on equity of 19.89% and a negative net margin of 21.07%. The company had revenue of $41.30 million during the quarter, compared to analyst estimates of $40.25 million. During the same period last year, the company posted ($0.31) earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts expect that AtriCure, Inc. will post ($0.96) earnings per share for the current year.
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A number of analysts recently issued reports on the stock. Leerink Swann restated an “outperform” rating and issued a $26.00 price target on shares of AtriCure in a research note on Friday. ValuEngine upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Piper Jaffray Companies restated an “overweight” rating and issued a $26.00 price target on shares of AtriCure in a research note on Tuesday, May 30th. TheStreet upgraded shares of AtriCure from a “d+” rating to a “c-” rating in a research note on Monday, May 15th. Finally, Zacks Investment Research lowered shares of AtriCure from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $23.56.
In other news, Director Elizabeth D. Krell sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $21.44, for a total value of $214,400.00. Following the completion of the sale, the director now directly owns 24,162 shares in the company, valued at $518,033.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.00% of the company’s stock.
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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