Paradigm Capital Management Inc. NY Grows Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Paradigm Capital Management Inc. NY increased its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 10.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 107,300 shares of the medical device company’s stock after acquiring an additional 10,000 shares during the period. Paradigm Capital Management Inc. NY owned approximately 0.23% of AtriCure worth $2,443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATRC. Vanguard Group Inc. grew its holdings in shares of AtriCure by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock worth $170,100,000 after purchasing an additional 76,146 shares during the period. Champlain Investment Partners LLC boosted its stake in AtriCure by 27.3% during the first quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock worth $81,556,000 after buying an additional 575,605 shares during the period. Hood River Capital Management LLC acquired a new stake in shares of AtriCure during the second quarter valued at about $40,422,000. First Light Asset Management LLC raised its stake in shares of AtriCure by 2.5% in the 1st quarter. First Light Asset Management LLC now owns 1,382,860 shares of the medical device company’s stock valued at $42,067,000 after acquiring an additional 33,417 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of AtriCure by 7.8% in the 4th quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock worth $47,448,000 after acquiring an additional 95,824 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Buying and Selling at AtriCure

In other news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now owns 8,970 shares in the company, valued at $215,907.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

ATRC has been the subject of a number of research reports. BTIG Research dropped their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their target price on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler cut their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and an average target price of $42.44.

AtriCure Price Performance

ATRC stock opened at $29.05 on Tuesday. The business has a 50 day moving average price of $24.67 and a 200 day moving average price of $24.57. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -36.31 and a beta of 1.43. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $44.64.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The business had revenue of $116.27 million during the quarter, compared to the consensus estimate of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) EPS. Equities research analysts anticipate that AtriCure, Inc. will post -0.77 earnings per share for the current fiscal year.

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.