Wells Fargo & Company MN Sells 37,874 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Wells Fargo & Company MN cut its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 39.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,407 shares of the medical device company's stock after selling 37,874 shares during the period. Wells Fargo & Company MN owned about 0.12% of AtriCure worth $1,754,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Astra Wealth Partners LLC bought a new stake in AtriCure in the 4th quarter valued at $246,000. Bryce Point Capital LLC acquired a new stake in shares of AtriCure during the 4th quarter valued at about $512,000. Trexquant Investment LP lifted its position in shares of AtriCure by 27.0% during the 4th quarter. Trexquant Investment LP now owns 98,206 shares of the medical device company's stock worth $3,001,000 after buying an additional 20,875 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in AtriCure in the fourth quarter valued at $816,000. Finally, Orion Portfolio Solutions LLC raised its stake in AtriCure by 9.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 44,584 shares of the medical device company's stock worth $1,362,000 after acquiring an additional 3,963 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Trading Up 2.9 %

AtriCure stock traded up $0.98 during trading hours on Tuesday, reaching $34.65. 1,122,803 shares of the company's stock traded hands, compared to its average volume of 657,765. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -36.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $43.11. The firm's 50 day moving average is $34.21 and its 200-day moving average is $34.70.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. On average, analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BTIG Research reiterated a "buy" rating on shares of AtriCure in a research report on Thursday, March 27th. Stifel Nicolaus increased their price target on AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating and issued a $51.00 price objective on shares of AtriCure in a research report on Thursday, March 27th. JPMorgan Chase & Co. decreased their target price on AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Canaccord Genuity Group cut their price target on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a report on Friday, March 28th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.44.

Insider Transactions at AtriCure

In other news, Director Karen Prange sold 6,100 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the transaction, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. The trade was a 25.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is owned by corporate insiders.

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.