Atom Investors LP Makes New $1.74 Million Investment in AtriCure, Inc. (NASDAQ:ATRC)

Atom Investors LP purchased a new stake in AtriCure, Inc. (NASDAQ:ATRC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 62,095 shares of the medical device company’s stock, valued at approximately $1,741,000. Atom Investors LP owned approximately 0.13% of AtriCure at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its position in AtriCure by 187.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 110,669 shares of the medical device company’s stock valued at $2,520,000 after buying an additional 72,200 shares in the last quarter. Renaissance Technologies LLC grew its stake in AtriCure by 12.8% in the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock valued at $3,910,000 after acquiring an additional 19,500 shares during the period. SG Americas Securities LLC bought a new stake in shares of AtriCure during the third quarter valued at approximately $488,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of AtriCure by 31.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock worth $14,038,000 after purchasing an additional 119,929 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of AtriCure by 151.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock worth $6,425,000 after purchasing an additional 138,046 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Stock Performance

NASDAQ ATRC opened at $37.06 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The company has a market capitalization of $1.81 billion, a PE ratio of -44.65 and a beta of 1.41. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $39.04. The company has a 50-day simple moving average of $31.87 and a 200 day simple moving average of $26.52.

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

Analyst Upgrades and Downgrades

ATRC has been the topic of several research reports. Canaccord Genuity Group upped their price objective on shares of AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their price target on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, Oppenheimer lifted their target price on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $41.00.

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.