Acutus Medical, Inc. (NASDAQ:AFIB) Director Orbimed Advisors Llc Purchases 1,071,428 Shares

Acutus Medical, Inc. (NASDAQ:AFIB) Director Orbimed Advisors Llc purchased 1,071,428 shares of Acutus Medical stock in a transaction dated Monday, July 19th. The stock was bought at an average price of $14.00 per share, for a total transaction of $14,999,992.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ AFIB opened at $14.41 on Thursday. Acutus Medical, Inc. has a 52-week low of $11.18 and a 52-week high of $38.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.54 and a current ratio of 6.29. The stock has a 50 day moving average price of $15.70.

Acutus Medical (NASDAQ:AFIB) last issued its quarterly earnings results on Tuesday, May 11th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.34). The firm had revenue of $3.59 million during the quarter, compared to analyst estimates of $2.76 million. Acutus Medical had a negative return on equity of 375.85% and a negative net margin of 1,079.68%. On average, equities research analysts expect that Acutus Medical, Inc. will post -3.8 EPS for the current year.

AFIB has been the topic of a number of research analyst reports. Canaccord Genuity upgraded shares of Acutus Medical from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, July 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $19.00 target price on shares of Acutus Medical in a research report on Thursday, March 25th. William Blair reiterated a “market perform” rating on shares of Acutus Medical in a research report on Thursday, March 25th. Finally, Zacks Investment Research downgraded shares of Acutus Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, July 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $23.83.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parian Global Management LP bought a new stake in shares of Acutus Medical in the 1st quarter valued at $11,320,000. Pier Capital LLC bought a new stake in shares of Acutus Medical in the 1st quarter valued at $6,451,000. Kamunting Street Capital Management L.P. increased its stake in shares of Acutus Medical by 550.8% in the 1st quarter. Kamunting Street Capital Management L.P. now owns 460,819 shares of the company’s stock valued at $6,161,000 after acquiring an additional 390,015 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Acutus Medical by 50.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 902,981 shares of the company’s stock valued at $12,073,000 after acquiring an additional 303,445 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Acutus Medical by 40.6% in the 1st quarter. BlackRock Inc. now owns 920,501 shares of the company’s stock valued at $12,308,000 after acquiring an additional 265,946 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

About Acutus Medical

Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. Its product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.

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