Silvercrest Asset Management Group LLC Cuts Stake in AtriCure, Inc. (NASDAQ:ATRC)

Silvercrest Asset Management Group LLC lessened its stake in AtriCure, Inc. (NASDAQ:ATRC) by 26.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,550 shares of the medical device company’s stock after selling 67,315 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.40% of AtriCure worth $5,797,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in AtriCure in the 4th quarter valued at $103,000. Virtu Financial LLC bought a new position in AtriCure during the fourth quarter valued at approximately $213,000. Victory Capital Management Inc. grew its holdings in AtriCure by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after buying an additional 1,155 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in AtriCure in the 1st quarter worth approximately $224,000. Finally, Aigen Investment Management LP raised its holdings in shares of AtriCure by 24.0% during the 4th quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock worth $255,000 after acquiring an additional 1,383 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Trading Up 1.5 %

Shares of ATRC traded up $0.32 during mid-day trading on Tuesday, reaching $22.28. 560,161 shares of the company’s stock traded hands, compared to its average volume of 767,538. AtriCure, Inc. has a 12 month low of $18.94 and a 12 month high of $57.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.83. The stock has a market cap of $1.06 billion, a P/E ratio of -27.95 and a beta of 1.44. The stock’s 50-day moving average is $22.67 and its two-hundred day moving average is $27.15.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, insider Salvatore Privitera acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought 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 directly owns 103,290 shares in the company, valued at $2,298,202.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AtriCure news, insider Salvatore Privitera bought 5,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average price of $22.25 per share, with a total value of $111,250.00. Following the transaction, 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 accessible through this hyperlink. Also, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total transaction of $36,135.00. Following the completion of the sale, the insider now 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. Insiders own 3.20% of the company’s stock.

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.