Adage Capital Partners GP L.L.C. Acquires New Position in AtriCure, Inc. (NASDAQ:ATRC)

Adage Capital Partners GP L.L.C. purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in AtriCure by 0.9% in the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock valued at $1,569,000 after purchasing an additional 484 shares during the period. Blue Trust Inc. boosted its stake in shares of AtriCure by 1.8% in the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock valued at $414,000 after buying an additional 265 shares during the period. KBC Group NV boosted its stake in shares of AtriCure by 65.3% in the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock valued at $72,000 after buying an additional 932 shares during the period. R Squared Ltd acquired a new position in shares of AtriCure during the fourth quarter worth about $89,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of AtriCure during the fourth quarter worth approximately $60,000. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Stock Performance

NASDAQ ATRC traded up $0.73 on Friday, reaching $30.02. The stock had a trading volume of 855,143 shares, compared to its average volume of 654,587. The stock has a market cap of $1.49 billion, a P/E ratio of -31.60 and a beta of 1.65. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $43.11. The business's 50-day moving average price is $33.57 and its 200 day moving average price is $34.77. 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 (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. The firm had revenue of $123.62 million during the quarter, compared to the consensus estimate of $122.92 million. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. AtriCure's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.28) EPS. As a group, equities analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insider Transactions at AtriCure

In other AtriCure news, Director Karen Prange sold 6,100 shares of the company's 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 directly owns 17,828 shares of the company's stock, valued at $679,603.36. This represents a 25.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.50% of the company's stock.

Analyst Ratings Changes

ATRC has been the subject of several analyst reports. UBS Group lowered their price target on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday. Stifel Nicolaus boosted their target price on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Piper Sandler raised their price target on AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. BTIG Research reaffirmed a "buy" rating on shares of AtriCure in a research report on Thursday, March 27th. Finally, Needham & Company LLC cut their target price on AtriCure from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently 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.