Perkins Capital Management Inc. Sells 500 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Perkins Capital Management Inc. cut its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 1.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 29,950 shares of the medical device company’s stock after selling 500 shares during the quarter. Perkins Capital Management Inc.’s holdings in AtriCure were worth $840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ATRC. Champlain Investment Partners LLC lifted its holdings in AtriCure by 27.3% during the 1st quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock worth $81,556,000 after purchasing an additional 575,605 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of AtriCure by 42.1% in the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock valued at $44,736,000 after acquiring an additional 581,843 shares during the period. Hood River Capital Management LLC acquired a new position in shares of AtriCure in the second quarter valued at about $40,422,000. Millennium Management LLC increased its position in AtriCure by 132.5% during the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock worth $21,694,000 after acquiring an additional 543,023 shares during the period. Finally, Fiera Capital Corp raised its stake in AtriCure by 1.1% in the 2nd quarter. Fiera Capital Corp now owns 918,207 shares of the medical device company’s stock worth $20,908,000 after purchasing an additional 10,432 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Oppenheimer upped their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on shares of AtriCure from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.11.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the sale, the director now directly owns 8,970 shares in the company, valued at approximately $215,907.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.20% of the stock is owned by company insiders.

AtriCure Stock Up 6.1 %

Shares of ATRC opened at $37.62 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $43.00. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -45.33 and a beta of 1.41. The stock has a fifty day moving average of $28.61 and a 200-day moving average of $24.77.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same period in the prior year, the business posted ($0.20) earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts anticipate that AtriCure, Inc. will post -0.72 earnings per share for the current fiscal 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.