Cwm LLC Acquires 891 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Cwm LLC increased its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 46.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,818 shares of the medical device company’s stock after purchasing an additional 891 shares during the period. Cwm LLC’s holdings in AtriCure were worth $91,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new position in AtriCure in the fourth quarter valued at about $516,000. Sei Investments Co. lifted its position in AtriCure by 6.1% during the 4th quarter. Sei Investments Co. now owns 107,290 shares of the medical device company’s stock valued at $3,279,000 after purchasing an additional 6,152 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of AtriCure in the 4th quarter valued at about $321,000. LPL Financial LLC grew its position in shares of AtriCure by 5.4% during the 4th quarter. LPL Financial LLC now owns 11,465 shares of the medical device company’s stock worth $350,000 after buying an additional 584 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of AtriCure by 43.1% during the 4th quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company’s stock worth $11,160,000 after buying an additional 110,039 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AtriCure

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ATRC. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research note on Wednesday, April 30th. Needham & Company LLC increased their price target on AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen cut AtriCure from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. BTIG Research set a $54.00 price objective on AtriCure in a report on Wednesday. Finally, UBS Group reduced their target price on AtriCure from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and an average target price of $50.89.

AtriCure Stock Performance

ATRC opened at $35.10 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.11 and a quick ratio of 2.88. The business has a fifty day simple moving average of $32.33 and a 200 day simple moving average of $34.32. AtriCure, Inc. has a 1 year low of $20.20 and a 1 year high of $43.11. The company has a market capitalization of $1.74 billion, a PE ratio of -45.58 and a beta of 1.56.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The company had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.21%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) earnings per share. Research analysts expect that AtriCure, Inc. will post -0.6 EPS for the current 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.