Bank of New York Mellon Corp Buys 6,809 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Bank of New York Mellon Corp grew its stake in AtriCure, Inc. (NASDAQ:ATRC) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 258,272 shares of the medical device company’s stock after purchasing an additional 6,809 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of AtriCure worth $7,893,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Heck Capital Advisors LLC bought a new position in shares of AtriCure in the 4th quarter worth about $60,000. Venturi Wealth Management LLC increased its stake in shares of AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after acquiring an additional 2,100 shares in the last quarter. KBC Group NV increased its stake in shares of AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after acquiring an additional 932 shares in the last quarter. R Squared Ltd bought a new position in shares of AtriCure in the 4th quarter worth about $89,000. Finally, Cowa LLC bought a new position in shares of AtriCure in the 4th quarter worth about $217,000. 99.11% of the stock is currently owned by institutional investors.

AtriCure Stock Performance

Shares of NASDAQ ATRC opened at $33.31 on Friday. The firm’s 50-day moving average price is $38.10 and its 200-day moving average price is $33.43. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.63 billion, a PE ratio of -35.06 and a beta of 1.53. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $43.11.

Wall Street Analyst Weigh In

ATRC has been the subject of several research reports. Stifel Nicolaus increased their price target on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on shares of AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price target on shares of AtriCure in a research note on Thursday, February 13th. Oppenheimer increased their price objective on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

Insider Activity

In other news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the sale, the director now owns 17,828 shares of the company’s stock, valued at $679,603.36. This trade represents a 25.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.20% of the company’s stock.

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.