Larson Financial Group LLC Sells 4,399 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Larson Financial Group LLC reduced its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 19.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,633 shares of the medical device company’s stock after selling 4,399 shares during the quarter. Larson Financial Group LLC’s holdings in AtriCure were worth $665,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC grew its stake in shares of AtriCure by 165.8% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock valued at $4,409,000 after purchasing an additional 77,055 shares during the period. CenterBook Partners LP bought a new position in shares of AtriCure during the 3rd quarter valued at approximately $770,000. Decheng Capital Management III Cayman LLC bought a new position in shares of AtriCure during the 3rd quarter valued at approximately $2,026,000. Envestnet Asset Management Inc. grew its stake in shares of AtriCure by 127.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 116,990 shares of the medical device company’s stock valued at $5,124,000 after acquiring an additional 65,653 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of AtriCure by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,689,883 shares of the medical device company’s stock valued at $205,417,000 after acquiring an additional 43,431 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Insider Transactions at AtriCure

In other news, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total transaction of $55,080.00. Following the sale, the insider now directly owns 74,284 shares of the company’s stock, valued at approximately $2,727,708.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Karl S. Dahlquist sold 1,885 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the sale, the insider now owns 50,954 shares in the company, valued at approximately $1,638,680.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the sale, the insider now owns 74,284 shares in the company, valued at approximately $2,727,708.48. The disclosure for this sale can be found here. Insiders have sold 13,116 shares of company stock valued at $468,797 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ATRC. StockNews.com downgraded AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Stifel Nicolaus cut their price objective on AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Oppenheimer upgraded AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Tuesday. UBS Group boosted their price objective on AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $46.00 price target on shares of AtriCure in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.63.

AtriCure Price Performance

NASDAQ ATRC opened at $23.17 on Wednesday. The stock’s 50 day moving average is $30.44 and its 200 day moving average is $33.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66. AtriCure, Inc. has a 12 month low of $22.27 and a 12 month high of $59.61.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The company had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $103.68 million. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. On average, research analysts expect that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

About AtriCure

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.