Truist Financial Corp Raises Stock Holdings in AtriCure, Inc. $ATRC

Truist Financial Corp grew its stake in AtriCure, Inc. (NASDAQ:ATRC) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,206 shares of the medical device company’s stock after buying an additional 2,198 shares during the quarter. Truist Financial Corp’s holdings in AtriCure were worth $695,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. US Bancorp DE raised its stake in AtriCure by 98.1% during the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company’s stock valued at $51,000 after purchasing an additional 789 shares during the period. First Horizon Advisors Inc. grew its holdings in AtriCure by 135.3% during the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company’s stock valued at $47,000 after buying an additional 832 shares in the last quarter. AQR Capital Management LLC grew its holdings in AtriCure by 1.0% during the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock valued at $2,700,000 after buying an additional 837 shares in the last quarter. CWM LLC grew its holdings in AtriCure by 46.2% during the 1st quarter. CWM LLC now owns 2,818 shares of the medical device company’s stock valued at $91,000 after buying an additional 891 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AtriCure by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock valued at $908,000 after buying an additional 1,230 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ATRC shares. Needham & Company LLC raised their price target on AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded AtriCure from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. BTIG Research set a $54.00 price target on AtriCure in a report on Wednesday, July 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AtriCure presently has a consensus rating of “Moderate Buy” and an average target price of $50.89.

Insider Transactions at AtriCure

In other AtriCure news, Director Sven Wehrwein sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the transaction, the director owned 34,374 shares of the company’s stock, valued at approximately $1,271,838. This trade represents a 12.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Justin J. Noznesky sold 3,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.30, for a total transaction of $108,900.00. Following the completion of the sale, the insider owned 83,964 shares of the company’s stock, valued at approximately $3,047,893.20. This represents a 3.45% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,952 shares of company stock worth $655,633. Corporate insiders own 3.50% of the company’s stock.

AtriCure Price Performance

Shares of ATRC stock opened at $35.39 on Wednesday. AtriCure, Inc. has a 52-week low of $27.32 and a 52-week high of $43.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 3.94. The firm has a market capitalization of $1.76 billion, a P/E ratio of -45.96 and a beta of 1.59. The stock has a 50 day moving average price of $35.88 and a 200 day moving average price of $33.56.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The firm had revenue of $136.14 million during the quarter, compared to analyst estimates of $130.17 million. During the same period last year, the company earned ($0.17) EPS. AtriCure’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. As a group, sell-side analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current year.

AtriCure 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.