Intech Investment Management LLC Takes $427,000 Position in AtriCure, Inc. (NASDAQ:ATRC)

Intech Investment Management LLC acquired a new position in shares of AtriCure, Inc. (NASDAQ:ATRC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,214 shares of the medical device company’s stock, valued at approximately $427,000.

Several other institutional investors have also modified their holdings of the stock. Arcadia Investment Management Corp MI purchased a new position in shares of AtriCure during the 3rd quarter worth $28,000. Comerica Bank raised its holdings in AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after buying an additional 1,043 shares during the period. nVerses Capital LLC boosted its stake in AtriCure by 733.3% during the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after buying an additional 4,400 shares during the period. Quest Partners LLC raised its stake in shares of AtriCure by 38.3% in the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after acquiring an additional 1,626 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its stake in AtriCure by 32.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after acquiring an additional 2,368 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Price Performance

Shares of AtriCure stock opened at $37.06 on Tuesday. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $39.04. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.81 billion, a PE ratio of -44.65 and a beta of 1.41. The company’s 50-day moving average price is $31.87 and its two-hundred day moving average price is $26.52.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The business had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. During the same period last year, the firm posted ($0.20) earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. JPMorgan Chase & Co. lifted their target price on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their price target on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer lifted their price objective on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their target price on shares of AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

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.