Redmile Group LLC lifted its holdings in AtriCure Inc. (NASDAQ:ATRC) by 8.3% during the 1st quarter, Holdings Channel reports. The firm owned 325,000 shares of the medical device company’s stock after acquiring an additional 25,000 shares during the quarter. Redmile Group LLC’s holdings in AtriCure were worth $8,707,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Bell Rock Capital LLC acquired a new position in AtriCure during the 1st quarter valued at about $26,000. PRW Wealth Management LLC bought a new stake in shares of AtriCure in the 4th quarter valued at about $61,000. Quantamental Technologies LLC bought a new stake in shares of AtriCure in the 1st quarter valued at about $82,000. Great West Life Assurance Co. Can increased its stake in shares of AtriCure by 104.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 4,400 shares of the medical device company’s stock valued at $130,000 after acquiring an additional 2,246 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of AtriCure by 121.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,331 shares of the medical device company’s stock valued at $133,000 after acquiring an additional 2,373 shares during the last quarter. Institutional investors and hedge funds own 89.28% of the company’s stock.
Shares of NASDAQ ATRC opened at $29.61 on Monday. AtriCure Inc. has a one year low of $25.36 and a one year high of $36.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.69 and a current ratio of 4.37. The firm has a market cap of $1.14 billion, a PE ratio of -31.50 and a beta of 0.30.
AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Thursday, April 25th. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The business had revenue of $53.97 million for the quarter, compared to analysts’ expectations of $52.45 million. AtriCure had a negative return on equity of 14.35% and a negative net margin of 7.98%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.31) EPS. As a group, research analysts expect that AtriCure Inc. will post -0.74 EPS for the current fiscal year.
In other news, CFO M. Andrew Wade sold 9,850 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $30.00, for a total value of $295,500.00. Following the completion of the transaction, the chief financial officer now owns 166,824 shares in the company, valued at approximately $5,004,720. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Justin J. Noznesky sold 12,569 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $27.64, for a total value of $347,407.16. Following the completion of the transaction, the senior vice president now owns 104,068 shares of the company’s stock, valued at approximately $2,876,439.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,123 shares of company stock worth $1,114,027. 8.00% of the stock is owned by corporate insiders.
A number of analysts recently issued reports on the company. Northland Securities reissued a “buy” rating on shares of AtriCure in a research note on Friday, April 26th. BTIG Research raised AtriCure from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Tuesday, April 2nd. Zacks Investment Research downgraded AtriCure from a “buy” rating to a “sell” rating in a report on Tuesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 price target on shares of AtriCure in a report on Thursday, March 28th. Finally, BidaskClub raised AtriCure from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $35.71.
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AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.
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