PDT Partners LLC Invests $665,000 in AtriCure, Inc. (NASDAQ:ATRC)

PDT Partners LLC acquired a new stake in AtriCure, Inc. (NASDAQ:ATRC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,701 shares of the medical device company’s stock, valued at approximately $665,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ATRC. Arcadia Investment Management Corp MI acquired a new position in shares of AtriCure in the 3rd quarter worth approximately $28,000. Comerica Bank lifted its stake in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after purchasing an additional 1,043 shares during the last quarter. Quest Partners LLC boosted its holdings in AtriCure by 38.3% in the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after purchasing an additional 1,626 shares during the period. nVerses Capital LLC increased its stake in AtriCure by 733.3% during the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of AtriCure by 32.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after purchasing an additional 2,368 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Stock Up 2.5 %

Shares of AtriCure stock opened at $37.06 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $39.04. The business’s fifty day moving average price is $31.87 and its two-hundred day moving average price is $26.52. The company has a market capitalization of $1.81 billion, a P/E ratio of -44.65 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last issued 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 for the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) earnings per share. As a group, research analysts forecast that AtriCure, Inc. will post -0.72 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ATRC. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. JPMorgan Chase & Co. lifted their target price on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price objective on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, UBS Group increased their target price on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.