Perkins Capital Management Inc. lessened its position in shares of AtriCure Inc. (NASDAQ:ATRC) by 13.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,750 shares of the medical device company’s stock after selling 10,000 shares during the period. AtriCure accounts for 1.2% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Perkins Capital Management Inc.’s holdings in AtriCure were worth $1,761,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of ATRC. Bell Rock Capital LLC purchased a new position in shares of AtriCure during the 1st quarter valued at $26,000. Federated Investors Inc. PA purchased a new position in shares of AtriCure during the 3rd quarter valued at $34,000. PRW Wealth Management LLC purchased a new position in shares of AtriCure during the 4th quarter valued at $61,000. Great West Life Assurance Co. Can lifted its position in shares of AtriCure by 104.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 4,400 shares of the medical device company’s stock valued at $130,000 after buying an additional 2,246 shares during the last quarter. Finally, First Quadrant L P CA purchased a new position in shares of AtriCure during the 4th quarter valued at $132,000. 90.17% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. BidaskClub cut AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 price target on shares of AtriCure in a research report on Thursday, March 28th. Zacks Investment Research cut AtriCure from a “buy” rating to a “sell” rating in a report on Tuesday, March 5th. BTIG Research raised AtriCure from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. initiated coverage on AtriCure in a report on Friday, April 12th. They set an “overweight” rating and a $37.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $35.71.
AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Thursday, February 28th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $52.89 million for the quarter, compared to analysts’ expectations of $51.62 million. AtriCure had a negative return on equity of 17.61% and a negative net margin of 10.48%. On average, research analysts forecast that AtriCure Inc. will post -0.74 earnings per share for the current fiscal year.
In related news, SVP Justin J. Noznesky sold 12,569 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $27.64, for a total transaction of $347,407.16. Following the sale, the senior vice president now owns 104,068 shares of the company’s stock, valued at approximately $2,876,439.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.70% of the company’s stock.
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AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.
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