AtriCure, Inc. (NASDAQ:ATRC) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 12.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 171,700 shares of the medical device company’s stock after buying an additional 19,500 shares during the quarter. Renaissance Technologies LLC owned about 0.36% of AtriCure worth $3,910,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ATRC. Dimensional Fund Advisors LP boosted its stake in AtriCure by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,001,161 shares of the medical device company’s stock worth $35,734,000 after purchasing an additional 9,176 shares in the last quarter. Norges Bank purchased a new stake in AtriCure during the 4th quarter valued at about $9,254,000. Eagle Asset Management Inc. grew its stake in AtriCure by 60.9% during the 4th quarter. Eagle Asset Management Inc. now owns 130,828 shares of the medical device company’s stock valued at $4,669,000 after purchasing an additional 49,528 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of AtriCure in the fourth quarter valued at about $1,184,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of AtriCure in the fourth quarter worth about $811,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Buying and Selling

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now directly owns 8,970 shares in the company, valued at $215,907.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

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

AtriCure Stock Performance

AtriCure stock opened at $28.18 on Friday. The firm has a 50 day simple moving average of $24.98 and a 200-day simple moving average of $24.52. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -35.23 and a beta of 1.43. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $44.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93.

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

About AtriCure

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.