Geode Capital Management LLC Increases Holdings in AtriCure, Inc. $ATRC

Geode Capital Management LLC grew its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 1.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,181,737 shares of the medical device company’s stock after acquiring an additional 14,577 shares during the period. Geode Capital Management LLC’s holdings in AtriCure were worth $38,731,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its stake in AtriCure by 5.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,512 shares of the medical device company’s stock worth $246,000 after buying an additional 385 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of AtriCure by 15.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,808 shares of the medical device company’s stock worth $190,000 after buying an additional 770 shares during the period. US Bancorp DE lifted its position in AtriCure by 98.1% in the first quarter. US Bancorp DE now owns 1,593 shares of the medical device company’s stock valued at $51,000 after purchasing an additional 789 shares during the last quarter. AQR Capital Management LLC boosted its position in AtriCure by 1.0% during the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock valued at $2,700,000 after buying an additional 837 shares during the period. Finally, CWM LLC grew its stake in shares of AtriCure by 46.2% in the first quarter. CWM LLC now owns 2,818 shares of the medical device company’s stock worth $91,000 after purchasing an additional 891 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Trading Down 6.4%

Shares of ATRC opened at $36.03 on Thursday. The firm has a market cap of $1.79 billion, a P/E ratio of -59.06 and a beta of 1.56. AtriCure, Inc. has a 1 year low of $28.29 and a 1 year high of $43.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. The company has a 50 day simple moving average of $35.14 and a two-hundred day simple moving average of $34.22.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.56%. The business had revenue of $134.27 million during the quarter, compared to the consensus estimate of $131.25 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. On average, equities analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at AtriCure

In other AtriCure news, insider Justin J. Noznesky sold 5,166 shares of AtriCure stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total value of $192,640.14. Following the completion of the transaction, the insider directly owned 78,798 shares of the company’s stock, valued at $2,938,377.42. This trade represents a 6.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sven Wehrwein sold 5,033 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $37.32, for a total transaction of $187,831.56. Following the completion of the sale, the director owned 34,374 shares in the company, valued at approximately $1,282,837.68. This trade represents a 12.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,166 shares of company stock worth $785,278 over the last 90 days. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on ATRC shares. Needham & Company LLC boosted their price objective on shares of AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. BTIG Research set a $54.00 target price on AtriCure in a research note on Wednesday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, October 8th. Wall Street Zen raised shares of AtriCure from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a report on Thursday, October 30th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AtriCure currently has an average rating of “Moderate Buy” and an average target price of $52.22.

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.