First Light Asset Management LLC Grows Stock Holdings in AtriCure, Inc. (NASDAQ:ATRC)

First Light Asset Management LLC raised its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 42.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,964,703 shares of the medical device company’s stock after acquiring an additional 581,843 shares during the period. AtriCure makes up approximately 3.9% of First Light Asset Management LLC’s investment portfolio, making the stock its 7th largest position. First Light Asset Management LLC owned about 4.13% of AtriCure worth $44,736,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Comerica Bank boosted its stake in AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares during the period. Quest Partners LLC acquired a new stake in shares of AtriCure during the fourth quarter worth $103,000. Virtu Financial LLC bought a new stake in shares of AtriCure in the fourth quarter valued at about $213,000. Victory Capital Management Inc. grew its stake in shares of AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its position in shares of AtriCure by 32.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after purchasing an additional 2,368 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the transaction, the director now directly owns 8,970 shares in the company, valued at approximately $215,907.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ATRC. BTIG Research reduced their price target on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC cut their price objective on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Piper Sandler reduced their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

AtriCure Stock Performance

Shares of AtriCure stock opened at $29.05 on Tuesday. The company’s 50 day moving average price is $24.67 and its two-hundred day moving average price is $24.57. The firm has a market capitalization of $1.38 billion, a P/E ratio of -36.31 and a beta of 1.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $44.64.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The business had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. During the same quarter in the previous year, the company posted ($0.12) EPS. AtriCure’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities analysts forecast that AtriCure, Inc. will post -0.77 earnings per share 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.