Rhumbline Advisers Purchases 2,577 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Rhumbline Advisers raised its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,936 shares of the medical device company’s stock after acquiring an additional 2,577 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of AtriCure worth $1,661,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Comerica Bank boosted 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 worth $77,000 after purchasing an additional 1,043 shares during the period. Quest Partners LLC bought a new position in shares of AtriCure during the fourth quarter worth $103,000. Virtu Financial LLC purchased a new position in AtriCure during the fourth quarter valued at $213,000. Victory Capital Management Inc. increased its holdings in AtriCure by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Aigen Investment Management LP increased its holdings in AtriCure by 24.0% in the 4th quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock valued at $255,000 after acquiring an additional 1,383 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Price Performance

AtriCure stock opened at $29.02 on Friday. The firm has a market capitalization of $1.38 billion, a PE ratio of -36.28 and a beta of 1.43. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $44.64. The firm has a 50-day moving average price of $24.56 and a 200-day moving average price of $24.81. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $116.24 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities research analysts forecast that AtriCure, Inc. will post -0.77 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ATRC shares. JPMorgan Chase & Co. cut their price objective on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reduced their price objective on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC decreased their price objective on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, BTIG Research dropped their price objective on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.44.

Insiders Place Their Bets

In other news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the sale, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.

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.