BNP Paribas Financial Markets Decreases Stake in AtriCure, Inc. (NASDAQ:ATRC)

BNP Paribas Financial Markets decreased its position in AtriCure, Inc. (NASDAQ:ATRC) by 86.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,534 shares of the medical device company’s stock after selling 79,020 shares during the period. BNP Paribas Financial Markets’ holdings in AtriCure were worth $351,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millrace Asset Group Inc. increased its stake in AtriCure by 2.4% in the 3rd quarter. Millrace Asset Group Inc. now owns 71,708 shares of the medical device company’s stock valued at $2,011,000 after buying an additional 1,660 shares during the last quarter. Champlain Investment Partners LLC increased its stake in AtriCure by 4.3% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock valued at $78,253,000 after buying an additional 115,813 shares during the last quarter. Eagle Asset Management Inc. increased its stake in AtriCure by 2.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 120,483 shares of the medical device company’s stock valued at $3,378,000 after buying an additional 2,662 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in AtriCure by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 394,584 shares of the medical device company’s stock valued at $11,064,000 after buying an additional 5,812 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in AtriCure in the 3rd quarter valued at about $427,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

ATRC has been the subject of several research analyst reports. Needham & Company LLC raised their price target on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group raised their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. JPMorgan Chase & Co. raised their price target on shares of AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price target on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

AtriCure Stock Down 3.4 %

AtriCure stock opened at $31.67 on Friday. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $39.04. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -38.16 and a beta of 1.40. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $32.93 and a 200 day simple moving average of $27.21.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. AtriCure’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.20) EPS. On average, analysts predict that AtriCure, Inc. will post -0.72 earnings per share for the current 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.