Geode Capital Management LLC Increases Stock Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Geode Capital Management LLC boosted its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,152,628 shares of the medical device company’s stock after buying an additional 32,676 shares during the period. Geode Capital Management LLC owned 2.36% of AtriCure worth $32,326,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI acquired a new stake in shares of AtriCure in the third quarter worth approximately $28,000. Quest Partners LLC boosted its holdings 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 purchasing an additional 1,626 shares during the last quarter. nVerses Capital LLC grew its stake in shares of AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after buying an additional 4,400 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in shares of 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 buying an additional 2,368 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of AtriCure during the 3rd quarter worth $230,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Oppenheimer boosted 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 price target on shares of AtriCure in a research report on Tuesday, December 17th. Needham & Company LLC increased their price objective 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. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Canaccord Genuity Group increased their price target on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Stock Down 0.0 %

Shares of NASDAQ ATRC opened at $30.50 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $39.04. The stock’s 50-day simple moving average is $33.38 and its 200-day simple moving average is $27.66. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -36.75 and a beta of 1.40.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (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 company had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. During the same period in the prior year, the company posted ($0.20) EPS. AtriCure’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, equities analysts anticipate that AtriCure, Inc. will post -0.72 earnings per share for the current fiscal year.

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.