Citigroup Inc. Sells 163 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Citigroup Inc. reduced its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,300 shares of the medical device company’s stock after selling 163 shares during the quarter. Citigroup Inc.’s holdings in AtriCure were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Alliancebernstein L.P. grew its stake in shares of AtriCure by 15.8% during the second quarter. Alliancebernstein L.P. now owns 2,831,538 shares of the medical device company’s stock valued at $224,626,000 after buying an additional 387,101 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of AtriCure by 11.6% during the first quarter. Fred Alger Management LLC now owns 3,193,417 shares of the medical device company’s stock valued at $209,233,000 after buying an additional 332,895 shares during the last quarter. Credit Suisse AG grew its stake in shares of AtriCure by 29.5% during the first quarter. Credit Suisse AG now owns 1,369,866 shares of the medical device company’s stock valued at $89,754,000 after buying an additional 312,042 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AtriCure by 47.9% during the first quarter. Dimensional Fund Advisors LP now owns 420,233 shares of the medical device company’s stock valued at $27,531,000 after buying an additional 136,044 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its stake in shares of AtriCure by 23.3% during the first quarter. Polar Capital Holdings Plc now owns 507,986 shares of the medical device company’s stock valued at $33,283,000 after buying an additional 96,010 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on the company. Oppenheimer cut AtriCure from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 5th. SVB Leerink increased their price objective on AtriCure from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Canaccord Genuity increased their price objective on AtriCure from $102.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Zacks Investment Research raised AtriCure from a “sell” rating to a “hold” rating in a research note on Tuesday, October 5th. Finally, Needham & Company LLC dropped their price objective on AtriCure from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, August 5th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $87.33.

AtriCure stock opened at $70.96 on Thursday. The business has a fifty day moving average of $73.77 and a two-hundred day moving average of $74.29. The company has a quick ratio of 2.94, a current ratio of 3.50 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.26 billion, a P/E ratio of -55.87 and a beta of 1.04. AtriCure, Inc. has a twelve month low of $34.04 and a twelve month high of $85.50.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, August 3rd. The medical device company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The company had revenue of $71.38 million for the quarter, compared to analysts’ expectations of $61.08 million. AtriCure had a negative return on equity of 10.18% and a negative net margin of 23.31%. The firm’s quarterly revenue was up 74.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.38) EPS. Equities analysts expect that AtriCure, Inc. will post -1.23 earnings per share for the current year.

In other news, insider Tonya Austin sold 493 shares of the stock in a transaction on Friday, July 16th. The stock was sold at an average price of $78.03, for a total transaction of $38,468.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Salvatore Privitera sold 2,000 shares of the stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $80.00, for a total value of $160,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,873 shares of company stock valued at $4,652,883. Company insiders own 3.60% of the company’s stock.

About AtriCure

AtriCure, Inc engages in the development, manufacture, and sale of devices designed primarily for the surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration.

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Institutional Ownership by Quarter for AtriCure (NASDAQ:ATRC)

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