Diversified Trust Co increased its position in AtriCure, Inc. (NASDAQ:ATRC – Get Rating) by 29.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,675 shares of the medical device company’s stock after acquiring an additional 2,225 shares during the quarter. Diversified Trust Co’s holdings in AtriCure were worth $395,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in AtriCure by 767.3% during the 1st quarter. Huntington National Bank now owns 451 shares of the medical device company’s stock valued at $30,000 after buying an additional 399 shares in the last quarter. Islay Capital Management LLC purchased a new stake in AtriCure during the 1st quarter valued at approximately $117,000. Rockefeller Capital Management L.P. grew its holdings in AtriCure by 10.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,341 shares of the medical device company’s stock valued at $162,000 after buying an additional 215 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in AtriCure during the 4th quarter valued at approximately $203,000. Finally, NorthCrest Asset Manangement LLC purchased a new stake in AtriCure during the 1st quarter valued at approximately $210,000. 95.21% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider Vinayak Doraiswamy sold 4,983 shares of AtriCure stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $45.99, for a total transaction of $229,168.17. Following the completion of the sale, the insider now directly owns 19,406 shares in the company, valued at $892,481.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.
AtriCure Trading Down 2.9 %
AtriCure (NASDAQ:ATRC – Get Rating) last announced its earnings results on Tuesday, August 2nd. The medical device company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). AtriCure had a net margin of 17.62% and a negative return on equity of 11.47%. During the same quarter in the previous year, the company posted ($0.30) earnings per share. As a group, analysts expect that AtriCure, Inc. will post -1.09 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on ATRC. Piper Sandler cut their price objective on shares of AtriCure from $90.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. BTIG Research reduced their price target on shares of AtriCure from $94.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, June 24th. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Wednesday, September 7th. Stifel Nicolaus reduced their price target on shares of AtriCure from $70.00 to $50.00 in a research report on Monday, July 18th. Finally, Needham & Company LLC boosted their price target on shares of AtriCure from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.86.
AtriCure Company Profile
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.
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