Advisors Capital Management LLC Has $5.54 Million Stock Holdings in AtriCure, Inc. $ATRC

Advisors Capital Management LLC boosted its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,162 shares of the medical device company’s stock after acquiring an additional 10,846 shares during the quarter. Advisors Capital Management LLC owned 0.34% of AtriCure worth $5,543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in shares of AtriCure by 98.1% during the first quarter. US Bancorp DE now owns 1,593 shares of the medical device company’s stock worth $51,000 after purchasing an additional 789 shares during the period. CWM LLC raised its position in AtriCure by 46.2% during the 1st quarter. CWM LLC now owns 2,818 shares of the medical device company’s stock worth $91,000 after purchasing an additional 891 shares during the last quarter. Strs Ohio acquired a new position in AtriCure during the 1st quarter worth about $158,000. PNC Financial Services Group Inc. lifted its holdings in AtriCure by 15.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,808 shares of the medical device company’s stock worth $190,000 after buying an additional 770 shares during the period. Finally, Bailard Inc. bought a new stake in shares of AtriCure in the 2nd quarter valued at about $213,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Stock Up 3.8%

AtriCure stock opened at $32.90 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of -53.93 and a beta of 1.56. AtriCure, Inc. has a 12-month low of $28.29 and a 12-month high of $43.11. The firm’s fifty day moving average is $35.20 and its 200 day moving average is $33.94. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Wednesday, October 29th. The medical device company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.56%. The business had revenue of $134.27 million during the quarter, compared to analysts’ expectations of $131.25 million. During the same period last year, the company posted ($0.17) earnings per share. The business’s quarterly revenue was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, sell-side analysts predict that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ATRC shares. Canaccord Genuity Group raised their price objective on AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Needham & Company LLC increased their target price on shares of AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. BTIG Research set a $54.00 price target on shares of AtriCure in a research report on Wednesday, July 30th. Wall Street Zen raised shares of AtriCure from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Citigroup reiterated a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, AtriCure has a consensus rating of “Moderate Buy” and a consensus price target of $52.22.

Insider Buying and Selling

In other AtriCure news, insider Justin J. Noznesky sold 3,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.30, for a total transaction of $108,900.00. Following the transaction, the insider owned 83,964 shares in the company, valued at approximately $3,047,893.20. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sven Wehrwein sold 5,000 shares of AtriCure 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 $1,271,838. This represents a 12.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,000 shares of company stock worth $473,900. 3.50% of the stock is owned by company insiders.

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.