Hood River Capital Management LLC Makes New Investment in AtriCure, Inc. (NASDAQ:ATRC)

Hood River Capital Management LLC acquired a new position in AtriCure, Inc. (NASDAQ:ATRC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,775,243 shares of the medical device company’s stock, valued at approximately $40,422,000. Hood River Capital Management LLC owned approximately 3.73% of AtriCure at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ATRC. Vanguard Group Inc. boosted its holdings in AtriCure by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock worth $170,100,000 after buying an additional 76,146 shares during the period. Champlain Investment Partners LLC boosted its stake in shares of AtriCure by 27.3% in the first quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock worth $81,556,000 after acquiring an additional 575,605 shares during the period. First Light Asset Management LLC boosted its stake in shares of AtriCure by 2.5% in the first quarter. First Light Asset Management LLC now owns 1,382,860 shares of the medical device company’s stock worth $42,067,000 after acquiring an additional 33,417 shares during the period. Wellington Management Group LLP grew its position in shares of AtriCure by 7.8% during the fourth quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock worth $47,448,000 after purchasing an additional 95,824 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in AtriCure by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,001,161 shares of the medical device company’s stock valued at $35,734,000 after purchasing an additional 9,176 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC dropped their price target on AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reduced their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, BTIG Research reduced their target price on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.44.

AtriCure Stock Performance

AtriCure stock opened at $29.02 on Monday. The company’s 50-day moving average price is $24.56 and its 200-day moving average price is $24.63. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.38 billion, a PE ratio of -36.28 and a beta of 1.43. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $44.64.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The company had revenue of $116.27 million for the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. On average, equities research analysts forecast that AtriCure, Inc. will post -0.77 EPS for the current fiscal year.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of AtriCure 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 completion of the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by insiders.

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.