AtriCure, Inc. (NASDAQ:ATRC) Shares Bought by First Light Asset Management LLC

First Light Asset Management LLC lifted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 42.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,964,703 shares of the medical device company's stock after purchasing an additional 581,843 shares during the quarter. AtriCure comprises approximately 3.9% of First Light Asset Management LLC's portfolio, making the stock its 7th biggest position. First Light Asset Management LLC owned about 4.13% of AtriCure worth $44,736,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Comerica Bank increased its stake in AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company's stock valued at $77,000 after buying an additional 1,043 shares during the period. Quest Partners LLC purchased a new position in AtriCure during the fourth quarter worth about $103,000. Virtu Financial LLC acquired a new stake in AtriCure in the fourth quarter valued at about $213,000. Victory Capital Management Inc. lifted its position in AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company's stock valued at $221,000 after purchasing an additional 1,155 shares during the period. Finally, Mount Yale Investment Advisors LLC boosted its holdings in AtriCure by 32.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company's stock valued at $222,000 after purchasing an additional 2,368 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

AtriCure Price Performance

NASDAQ:ATRC traded up $0.45 during mid-day trading on Tuesday, hitting $29.50. 527,344 shares of the company's stock traded hands, compared to its average volume of 755,510. The firm's 50 day simple moving average is $24.75 and its 200 day simple moving average is $24.52. The company has a market cap of $1.40 billion, a PE ratio of -36.88 and a beta of 1.43. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $44.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The firm had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. During the same quarter in the prior year, the company earned ($0.12) EPS. AtriCure's revenue was up 15.2% on a year-over-year basis. Sell-side analysts expect that AtriCure, Inc. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. BTIG Research reduced their price target on AtriCure from $58.00 to $53.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Needham & Company LLC decreased their target price on shares of AtriCure from $40.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Piper Sandler cut their price target on shares of AtriCure from $65.00 to $40.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on shares of AtriCure from $34.00 to $30.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their target price on shares of AtriCure from $30.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.44.

Insider Activity at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 8,970 shares of the company's stock, valued at approximately $215,907.90. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is owned by corporate insiders.

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.