TimesSquare Capital Management LLC Sells 121,563 Shares of AtriCure, Inc. (NASDAQ:ATRC)

TimesSquare Capital Management LLC trimmed its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 12.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 854,547 shares of the medical device company’s stock after selling 121,563 shares during the quarter. TimesSquare Capital Management LLC owned 1.80% of AtriCure worth $25,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ATRC. Wesbanco Bank Inc. increased its stake in AtriCure by 137.9% in the 3rd quarter. Wesbanco Bank Inc. now owns 15,525 shares of the medical device company’s stock worth $680,000 after buying an additional 9,000 shares in the last quarter. Vanguard Group Inc. increased its stake in AtriCure by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,689,883 shares of the medical device company’s stock worth $205,417,000 after buying an additional 43,431 shares in the last quarter. Diversified Trust Co increased its stake in AtriCure by 46.8% in the 4th quarter. Diversified Trust Co now owns 27,283 shares of the medical device company’s stock worth $974,000 after buying an additional 8,703 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in AtriCure by 28.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 259,169 shares of the medical device company’s stock worth $9,250,000 after buying an additional 56,761 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its position in shares of AtriCure by 223.0% during the fourth quarter. HighMark Wealth Management LLC now owns 9,125 shares of the medical device company’s stock valued at $326,000 after purchasing an additional 6,300 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

AtriCure Trading Down 0.9 %

Shares of AtriCure stock traded down $0.20 on Friday, hitting $23.19. 726,329 shares of the company traded hands, compared to its average volume of 1,026,520. The stock’s 50 day moving average price is $22.28 and its 200-day moving average price is $28.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 4.00. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $59.61.

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

Insider Activity at AtriCure

In other AtriCure news, insider Salvatore Privitera acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $22.25 per share, with a total value of $111,250.00. Following the completion of the acquisition, the insider now directly owns 103,290 shares in the company, valued at approximately $2,298,202.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction 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 transaction, the insider now directly owns 71,284 shares of the company’s stock, 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. Also, insider Salvatore Privitera purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $22.25 per share, for a total transaction of $111,250.00. Following the completion of the acquisition, the insider now directly owns 103,290 shares of the company’s stock, valued at approximately $2,298,202.50. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ATRC shares. Canaccord Genuity Group cut their price objective on AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of AtriCure in a research report on Monday, July 8th. JPMorgan Chase & Co. dropped their price target on AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Oppenheimer raised shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Tuesday, April 23rd. Finally, StockNews.com downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.78.

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.