Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in AtriCure, Inc. $ATRC

Connor Clark & Lunn Investment Management Ltd. raised its position in AtriCure, Inc. (NASDAQ:ATRC) by 18.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 264,344 shares of the medical device company’s stock after buying an additional 40,775 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AtriCure were worth $8,663,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of AtriCure by 1.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 755,537 shares of the medical device company’s stock valued at $24,759,000 after acquiring an additional 7,731 shares during the period. Nicholas Company Inc. increased its position in shares of AtriCure by 8.5% in the second quarter. Nicholas Company Inc. now owns 192,635 shares of the medical device company’s stock valued at $6,313,000 after buying an additional 15,135 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of AtriCure by 5.4% in the second quarter. Teacher Retirement System of Texas now owns 7,512 shares of the medical device company’s stock valued at $246,000 after buying an additional 385 shares in the last quarter. Riverwater Partners LLC acquired a new position in shares of AtriCure during the 2nd quarter worth approximately $1,103,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of AtriCure by 3.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,460 shares of the medical device company’s stock valued at $1,916,000 after buying an additional 1,804 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Sven Wehrwein sold 5,000 shares of AtriCure stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the sale, the director owned 34,374 shares of the company’s stock, valued at approximately $1,271,838. The trade was a 12.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin J. Noznesky sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.30, for a total value of $108,900.00. Following the completion of the transaction, the insider owned 83,964 shares in the company, valued at $3,047,893.20. This represents a 3.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,000 shares of company stock valued at $473,900 in the last 90 days. Insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ATRC shares. Citigroup restated a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. BTIG Research set a $54.00 price target on shares of AtriCure in a research report on Wednesday, July 30th. Canaccord Genuity Group raised their price target on shares of AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded AtriCure from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.22.

AtriCure Stock Up 0.6%

NASDAQ ATRC opened at $33.06 on Thursday. AtriCure, Inc. has a 52 week low of $28.29 and a 52 week high of $43.11. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $35.33 and its 200-day simple moving average is $33.96. The firm has a market cap of $1.64 billion, a PE ratio of -54.20 and a beta of 1.56.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $134.27 million during the quarter, compared to analyst estimates of $131.25 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. AtriCure’s quarterly revenue was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, equities analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current year.

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.