State Street Corp Acquires 63,002 Shares of AtriCure, Inc. (NASDAQ:ATRC)

State Street Corp raised its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 4.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,344,856 shares of the medical device company’s stock after purchasing an additional 63,002 shares during the quarter. State Street Corp owned approximately 2.76% of AtriCure worth $37,710,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Arizona PSPRS Trust acquired a new position in shares of AtriCure during the third quarter valued at about $1,657,000. Atom Investors LP purchased a new stake in shares of AtriCure during the third quarter valued at approximately $1,741,000. PDT Partners LLC purchased a new stake in AtriCure during the third quarter worth about $665,000. Captrust Financial Advisors purchased a new position in AtriCure in the third quarter valued at approximately $230,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in AtriCure by 38.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,053 shares of the medical device company’s stock valued at $394,000 after acquiring an additional 3,880 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $30.72 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The company has a market capitalization of $1.50 billion, a PE ratio of -37.01 and a beta of 1.40. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $39.04. The business has a fifty day moving average price of $33.29 and a 200-day moving average price of $27.47.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $112.23 million. During the same quarter in the prior year, the business earned ($0.20) EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts expect that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their price target on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $40.00 price target on shares of AtriCure in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.