Wasatch Advisors LP Sells 99,946 Shares of AtriCure, Inc. $ATRC

Wasatch Advisors LP reduced its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 28.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,931 shares of the medical device company’s stock after selling 99,946 shares during the quarter. Wasatch Advisors LP owned approximately 0.50% of AtriCure worth $7,245,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd lifted its holdings in AtriCure by 197.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after buying an additional 538 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in AtriCure in the 2nd quarter worth about $37,000. Smartleaf Asset Management LLC grew its stake in AtriCure by 59.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock worth $46,000 after acquiring an additional 429 shares in the last quarter. Global Retirement Partners LLC bought a new position in AtriCure in the 4th quarter worth about $73,000. Finally, State of Wyoming purchased a new position in shares of AtriCure during the fourth quarter worth approximately $75,000. 99.11% of the stock is currently owned by institutional investors.

Insider Activity at AtriCure

In other news, Director Karen Prange sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the sale, the director directly owned 26,373 shares of the company’s stock, valued at $755,586.45. The trade was a 10.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.

AtriCure Stock Performance

ATRC stock opened at $30.18 on Friday. AtriCure, Inc. has a one year low of $25.36 and a one year high of $43.18. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -301.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.18 and a current ratio of 4.29. The firm has a 50-day simple moving average of $28.00 and a two-hundred day simple moving average of $32.45.

Analysts Set New Price Targets

ATRC has been the subject of several research analyst reports. Zacks Research downgraded shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Freedom Capital raised AtriCure to a “strong-buy” rating in a research note on Wednesday, April 1st. Weiss Ratings downgraded AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Wall Street Zen downgraded AtriCure from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Canaccord Genuity Group raised their target price on shares of AtriCure from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus target price of $48.71.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.