AtriCure, Inc. (NASDAQ:ATRC) Shares Purchased by Quest Partners LLC

Quest Partners LLC raised its position in AtriCure, Inc. (NASDAQ:ATRC) by 38.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,868 shares of the medical device company’s stock after purchasing an additional 1,626 shares during the period. Quest Partners LLC’s holdings in AtriCure were worth $134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank increased its holdings in shares of AtriCure by 70.5% during the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after buying an additional 1,043 shares during the last quarter. Virtu Financial LLC bought a new position in AtriCure during the 4th quarter valued at $213,000. Victory Capital Management Inc. grew its stake in AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after purchasing an additional 1,155 shares in the last quarter. Aigen Investment Management LP grew its position in shares of AtriCure by 24.0% in the 4th quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock worth $255,000 after acquiring an additional 1,383 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new stake in AtriCure during the first quarter valued at $224,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Stock Performance

Shares of ATRC opened at $27.30 on Tuesday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -34.13 and a beta of 1.43. AtriCure, Inc. has a 12 month low of $18.94 and a 12 month high of $44.64. The company’s fifty day moving average is $24.10 and its 200-day moving average is $24.88. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). The company had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) earnings per share. Equities analysts expect that AtriCure, Inc. will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ATRC. Needham & Company LLC dropped their price target on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday. Piper Sandler reduced their price objective on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their target price on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, AtriCure has an average rating of “Moderate Buy” and a consensus price target of $42.44.

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.