AlphaCentric Advisors LLC Acquires New Holdings in AtriCure, Inc. (NASDAQ:ATRC)

AlphaCentric Advisors LLC acquired a new stake in shares of AtriCure, Inc. (NASDAQ:ATRC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 26,035 shares of the medical device company’s stock, valued at approximately $796,000.

Other institutional investors also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC boosted its holdings in AtriCure by 4.3% in the third quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock worth $78,253,000 after acquiring an additional 115,813 shares in the last quarter. Wellington Management Group LLP boosted its holdings in AtriCure by 0.4% in the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock worth $43,291,000 after acquiring an additional 6,045 shares in the last quarter. State Street Corp boosted its holdings in AtriCure by 4.9% in the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock worth $37,710,000 after acquiring an additional 63,002 shares in the last quarter. Geode Capital Management LLC boosted its holdings in AtriCure by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after acquiring an additional 32,676 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in AtriCure by 14.6% in the third quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock worth $18,621,000 after acquiring an additional 84,700 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

ATRC has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $51.00 price target on shares of AtriCure in a report on Thursday. UBS Group lifted their target price on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Piper Sandler lifted their target price on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, AtriCure currently has an average rating of “Moderate Buy” and a consensus price target of $51.56.

AtriCure Stock Up 3.4 %

Shares of ATRC stock opened at $40.94 on Monday. The stock has a 50 day moving average of $35.76 and a 200 day moving average of $31.50. 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 stock has a market cap of $2.00 billion, a P/E ratio of -49.33 and a beta of 1.46. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.11.

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.