Emerald Mutual Fund Advisers Trust Has $5.81 Million Position in AtriCure, Inc. (NASDAQ:ATRC)

Emerald Mutual Fund Advisers Trust lessened its stake in AtriCure, Inc. (NASDAQ:ATRC) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 255,241 shares of the medical device company’s stock after selling 16,573 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.54% of AtriCure worth $5,812,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of AtriCure by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after purchasing an additional 1,155 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in AtriCure by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 367,151 shares of the medical device company’s stock worth $13,104,000 after buying an additional 4,165 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in AtriCure by 20.5% in the 4th quarter. Teacher Retirement System of Texas now owns 20,051 shares of the medical device company’s stock valued at $716,000 after buying an additional 3,417 shares during the period. BNP Paribas Financial Markets raised its stake in shares of AtriCure by 28.5% in the 4th quarter. BNP Paribas Financial Markets now owns 100,842 shares of the medical device company’s stock valued at $3,599,000 after buying an additional 22,388 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of AtriCure by 14.4% during the 4th quarter. Jump Financial LLC now owns 50,504 shares of the medical device company’s stock worth $1,802,000 after acquiring an additional 6,355 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Stock Performance

AtriCure stock opened at $26.24 on Friday. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $44.92. The stock has a 50-day simple moving average of $23.54 and a 200 day simple moving average of $25.27. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -32.80 and a beta of 1.43.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The company had revenue of $116.27 million during the quarter, compared to the consensus estimate of $116.24 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. On average, research analysts anticipate that AtriCure, Inc. will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

ATRC has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Sandler dropped their price objective on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. BTIG Research reduced their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

Insiders Place Their Bets

In other news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the sale, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

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.