Fmr LLC Decreases Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Fmr LLC decreased its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 53.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 973,456 shares of the medical device company’s stock after selling 1,138,897 shares during the quarter. Fmr LLC owned approximately 2.00% of AtriCure worth $27,296,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Comerica Bank increased its stake in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares during the period. Diversified Trust Co boosted its holdings in AtriCure by 4.7% during the second quarter. Diversified Trust Co now owns 34,980 shares of the medical device company’s stock worth $796,000 after buying an additional 1,558 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of AtriCure by 8.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 309,547 shares of the medical device company’s stock worth $7,048,000 after acquiring an additional 23,436 shares during the period. HighMark Wealth Management LLC raised its holdings in AtriCure by 664.1% during the second quarter. HighMark Wealth Management LLC now owns 69,725 shares of the medical device company’s stock worth $1,588,000 after purchasing an additional 60,600 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in AtriCure by 0.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 380,720 shares of the medical device company’s stock worth $8,669,000 after purchasing an additional 2,898 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

ATRC has been the subject of a number of research analyst reports. Oppenheimer raised their price target on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their target price on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, JPMorgan Chase & Co. upped their target price on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $33.94 on Tuesday. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $32.51 and a 200 day moving average price of $26.96. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -40.89 and a beta of 1.40. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $39.04.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. During the same period in the prior year, the company posted ($0.20) earnings per share. AtriCure’s revenue was up 17.9% on a year-over-year basis. Research analysts predict that AtriCure, Inc. will post -0.72 earnings per share for the current year.

AtriCure 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.