Mount Yale Investment Advisors LLC Takes Position in AtriCure, Inc. (NASDAQ:ATRC)

Mount Yale Investment Advisors LLC acquired a new stake in shares of AtriCure, Inc. (NASDAQ:ATRC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,375 shares of the medical device company’s stock, valued at approximately $224,000.

Several other institutional investors have also modified their holdings of ATRC. Quest Partners LLC bought a new position in shares of AtriCure during the 4th quarter valued at about $103,000. Virtu Financial LLC bought a new stake in AtriCure in the 4th quarter valued at approximately $213,000. Victory Capital Management Inc. lifted its stake in AtriCure by 22.9% in the 4th 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. Aigen Investment Management LP lifted its stake in AtriCure by 24.0% in the 4th quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock valued at $255,000 after acquiring an additional 1,383 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in AtriCure by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after acquiring an additional 659 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at AtriCure

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total value of $36,135.00. Following the completion of the transaction, the insider now directly owns 71,284 shares in the company, valued at $1,717,231.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Salvatore Privitera acquired 5,000 shares of AtriCure stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $22.25 per share, with a total value of $111,250.00. Following the completion of the purchase, the insider now owns 103,290 shares of the company’s stock, valued at approximately $2,298,202.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total value of $36,135.00. Following the completion of the sale, the insider now directly owns 71,284 shares of the company’s stock, valued at approximately $1,717,231.56. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

AtriCure Trading Up 3.1 %

AtriCure stock traded up $0.67 during trading hours on Tuesday, hitting $22.63. The stock had a trading volume of 117,262 shares, compared to its average volume of 764,484. The company has a quick ratio of 2.83, a current ratio of 4.00 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -27.45 and a beta of 1.44. AtriCure, Inc. has a one year low of $18.94 and a one year high of $57.77. The business’s 50 day simple moving average is $22.67 and its 200-day simple moving average is $27.15.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $108.90 million during the quarter, compared to the consensus estimate of $106.86 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.85%. AtriCure’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.23) earnings per share. On average, equities analysts predict that AtriCure, Inc. will post -0.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ATRC shares. Canaccord Genuity Group dropped their price objective on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. decreased their target price on AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Tuesday, April 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of AtriCure in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and an average price target of $45.00.

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.