Cresset Asset Management LLC Buys New Shares in AtriCure, Inc. $ATRC

Cresset Asset Management LLC bought a new stake in shares of AtriCure, Inc. (NASDAQ:ATRC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,328 shares of the medical device company’s stock, valued at approximately $365,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Neuberger Berman Group LLC grew its holdings in shares of AtriCure by 26.3% during the 1st quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company’s stock valued at $38,365,000 after purchasing an additional 246,877 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of AtriCure by 16.0% during the 1st quarter. Russell Investments Group Ltd. now owns 181,719 shares of the medical device company’s stock valued at $5,862,000 after purchasing an additional 25,070 shares during the last quarter. Informed Momentum Co LLC bought a new position in shares of AtriCure during the 1st quarter valued at $2,759,000. Knott David M Jr bought a new position in shares of AtriCure during the 1st quarter valued at $794,000. Finally, Nuveen LLC bought a new position in shares of AtriCure during the 1st quarter valued at $30,666,000. Institutional investors own 99.11% of the company’s stock.

Insider Transactions at AtriCure

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $36.58, for a total value of $91,450.00. Following the completion of the sale, the insider directly owned 71,872 shares of the company’s stock, valued at approximately $2,629,077.76. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sven Wehrwein sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $36.00, for a total transaction of $180,000.00. Following the completion of the sale, the director directly owned 34,374 shares of the company’s stock, valued at approximately $1,237,464. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,452 shares of company stock valued at $445,333. Company insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

ATRC has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a report on Wednesday, April 30th. Wall Street Zen raised shares of AtriCure from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Needham & Company LLC raised their price target on shares of AtriCure from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. BTIG Research set a $54.00 price target on shares of AtriCure in a report on Wednesday, July 30th. Finally, UBS Group cut their price target on shares of AtriCure from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $50.89.

AtriCure Trading Up 5.4%

NASDAQ:ATRC opened at $37.66 on Monday. The company has a 50-day moving average price of $33.05 and a 200-day moving average price of $33.83. AtriCure, Inc. has a 12 month low of $24.48 and a 12 month high of $43.11. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -48.91 and a beta of 1.61.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.13. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The firm had revenue of $136.14 million during the quarter, compared to analysts’ expectations of $130.17 million. During the same period last year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.390–0.340 EPS. Equities analysts predict 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.