Adage Capital Partners GP L.L.C. Acquires Shares of 300,000 AtriCure, Inc. (NASDAQ:ATRC)

Adage Capital Partners GP L.L.C. purchased a new stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 300,000 shares of the medical device company's stock, valued at approximately $9,168,000. Adage Capital Partners GP L.L.C. owned 0.62% of AtriCure as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ATRC. Kennedy Capital Management LLC boosted its stake in AtriCure by 29.8% in the 4th quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company's stock worth $22,999,000 after buying an additional 172,648 shares during the last quarter. Marshall Wace LLP raised its position in shares of AtriCure by 37.1% during the 4th quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company's stock valued at $18,922,000 after acquiring an additional 167,476 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AtriCure by 24.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock valued at $21,398,000 after buying an additional 136,015 shares during the period. Raymond James Financial Inc. bought a new stake in AtriCure in the fourth quarter valued at $3,716,000. Finally, Norges Bank acquired a new position in shares of AtriCure during the fourth quarter worth approximately $3,421,000. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Stock Up 2.5 %

Shares of AtriCure stock traded up $0.73 during midday trading on Friday, reaching $30.02. 855,143 shares of the company's stock traded hands, compared to its average volume of 655,816. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $43.11. The company's 50 day simple moving average is $33.57 and its 200 day simple moving average is $34.68. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -31.60 and a beta of 1.65.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.11. The firm had revenue of $123.62 million during the quarter, compared to analysts' expectations of $122.92 million. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. The company's revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.28) earnings per share. Equities analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares in the company, valued at $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ATRC. Piper Sandler boosted their price objective on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. BTIG Research reiterated a "buy" rating on shares of AtriCure in a research report on Thursday, March 27th. UBS Group reduced their target price on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday. Needham & Company LLC decreased their price objective on AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

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.