Rhumbline Advisers Sells 7,896 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Rhumbline Advisers reduced its stake in AtriCure, Inc. (NASDAQ:ATRC) by 10.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,919 shares of the medical device company’s stock after selling 7,896 shares during the quarter. Rhumbline Advisers owned about 0.15% of AtriCure worth $2,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hood River Capital Management LLC raised its stake in AtriCure by 3.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company’s stock worth $89,349,000 after buying an additional 93,131 shares during the last quarter. First Light Asset Management LLC increased its stake in shares of AtriCure by 5.6% in the 4th quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company’s stock valued at $60,179,000 after acquiring an additional 103,685 shares in the last quarter. Kennedy Capital Management LLC increased its stake in shares of AtriCure by 29.8% in the 4th quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company’s stock valued at $22,999,000 after acquiring an additional 172,648 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in AtriCure by 24.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company’s stock valued at $21,398,000 after purchasing an additional 136,015 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in AtriCure by 37.1% in the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company’s stock valued at $18,922,000 after purchasing an additional 167,476 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AtriCure

In related news, insider Vinayak Doraiswamy sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $33.44, for a total transaction of $83,600.00. Following the completion of the sale, the insider now owns 73,550 shares of the company’s stock, valued at $2,459,512. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a research report on Sunday, June 1st. BTIG Research reaffirmed a “buy” rating on shares of AtriCure in a research report on Thursday, March 27th. UBS Group reduced their price objective 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. JPMorgan Chase & Co. reduced their price target on shares of AtriCure from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and an average price target of $50.67.

AtriCure Trading Up 2.2%

Shares of AtriCure stock opened at $32.31 on Tuesday. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $43.11. The firm has a market cap of $1.60 billion, a PE ratio of -34.01 and a beta of 1.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The company has a 50 day simple moving average of $32.57 and a two-hundred day simple moving average of $34.51.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The firm had revenue of $123.62 million during the quarter, compared to the consensus estimate of $122.92 million. During the same period in the prior year, the firm posted ($0.28) earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

AtriCure Company 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.