Truist Financial Corp Has $346,000 Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Truist Financial Corp raised its position in AtriCure, Inc. (NASDAQ:ATRC) by 13.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 15,184 shares of the medical device company’s stock after purchasing an additional 1,842 shares during the period. Truist Financial Corp’s holdings in AtriCure were worth $346,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ATRC. Virtu Financial LLC bought a new position in AtriCure during the fourth quarter worth $213,000. Wellington Management Group LLP lifted its stake in shares of AtriCure by 7.8% in the 4th quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock valued at $47,448,000 after purchasing an additional 95,824 shares during the period. Vanguard Group Inc. boosted its position in shares of AtriCure by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after purchasing an additional 76,146 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in AtriCure during the first quarter worth approximately $842,000. Finally, Diversified Trust Co grew its stake in AtriCure by 22.5% during the first quarter. Diversified Trust Co now owns 33,422 shares of the medical device company’s stock worth $1,017,000 after purchasing an additional 6,139 shares during the period. 99.11% of the stock is owned by institutional investors.

AtriCure Price Performance

ATRC stock opened at $28.79 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. The business has a 50-day simple moving average of $26.68 and a two-hundred day simple moving average of $24.20. The company has a market capitalization of $1.37 billion, a P/E ratio of -35.99 and a beta of 1.44. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $43.00.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). The company had revenue of $116.27 million for the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. AtriCure’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Research analysts expect that AtriCure, Inc. will post -0.77 EPS for the current fiscal year.

Insider Activity

In related news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now directly owns 8,970 shares in the company, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ATRC shares. Needham & Company LLC cut their price target on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reduced their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. BTIG Research reduced their target price on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $42.44.

AtriCure Company 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.