Divisadero Street Capital Management LP Sells 27,731 Shares of AtriCure, Inc. $ATRC

Divisadero Street Capital Management LP cut its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 82.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,959 shares of the medical device company’s stock after selling 27,731 shares during the quarter. Divisadero Street Capital Management LP’s holdings in AtriCure were worth $210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd increased its position in AtriCure by 197.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 538 shares during the period. Farther Finance Advisors LLC lifted its position in shares of AtriCure by 1,818.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after purchasing an additional 1,073 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of AtriCure during the second quarter valued at approximately $37,000. First Horizon Corp bought a new position in shares of AtriCure during the third quarter valued at approximately $42,000. Finally, CWM LLC increased its holdings in AtriCure by 36.6% during the third quarter. CWM LLC now owns 2,587 shares of the medical device company’s stock valued at $91,000 after buying an additional 693 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Insider Transactions at AtriCure

In other AtriCure news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the completion of the sale, the insider directly owned 96,875 shares in the company, valued at approximately $2,889,781.25. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.50% of the stock is owned by corporate insiders.

AtriCure Price Performance

Shares of ATRC opened at $30.44 on Tuesday. The company has a 50 day moving average of $35.05 and a two-hundred day moving average of $36.05. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a twelve month low of $28.29 and a twelve month high of $43.18. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -126.83 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The business had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.50 million. During the same period in the prior year, the firm posted ($0.33) earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ATRC has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Wednesday, February 11th. Zacks Research downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, January 21st. Canaccord Genuity Group decreased their price objective on AtriCure from $64.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, Wall Street Zen raised AtriCure from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.43.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.