Semanteon Capital Management LP Makes New Investment in AtriCure, Inc. (NASDAQ:ATRC)

Semanteon Capital Management LP purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 32,305 shares of the medical device company’s stock, valued at approximately $1,153,000. Semanteon Capital Management LP owned about 0.07% of AtriCure at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. RiverPark Advisors LLC acquired a new stake in shares of AtriCure in the third quarter worth approximately $27,000. Arcadia Investment Management Corp MI acquired a new stake in shares of AtriCure in the third quarter worth approximately $28,000. Allspring Global Investments Holdings LLC boosted its position in shares of AtriCure by 31.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock worth $91,000 after acquiring an additional 497 shares during the last quarter. HighMark Wealth Management LLC boosted its position in shares of AtriCure by 175.6% in the third quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company’s stock worth $124,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of AtriCure by 38.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,715 shares of the medical device company’s stock worth $382,000 after acquiring an additional 2,408 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Oppenheimer upgraded shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a report on Tuesday. StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Stifel Nicolaus cut their price target on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Needham & Company LLC restated a “buy” rating and issued a $46.00 price target on shares of AtriCure in a report on Wednesday, April 10th. Finally, UBS Group raised their price target on shares of AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.63.

AtriCure Stock Down 1.9 %

Shares of ATRC traded down $0.44 during mid-day trading on Thursday, reaching $22.61. 326,838 shares of the stock traded hands, compared to its average volume of 677,749. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -34.26 and a beta of 1.38. The stock has a fifty day simple moving average of $30.02 and a 200 day simple moving average of $33.77. AtriCure, Inc. has a 12-month low of $22.07 and a 12-month high of $59.61. The company has a quick ratio of 2.66, a current ratio of 3.57 and a debt-to-equity ratio of 0.15.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The company had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. Sell-side analysts expect that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the sale, the insider now owns 74,284 shares in the company, valued at $2,727,708.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the transaction, the insider now owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Karl S. Dahlquist sold 1,885 shares of AtriCure stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the completion of the transaction, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $1,638,680.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,116 shares of company stock worth $468,797. 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.