BNP Paribas Financial Markets Purchases 84,776 Shares of AtriCure, Inc. (NASDAQ:ATRC)

BNP Paribas Financial Markets grew its stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 676.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,310 shares of the medical device company's stock after purchasing an additional 84,776 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.20% of AtriCure worth $2,974,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. bought a new position in AtriCure in the 4th quarter valued at $9,168,000. Kennedy Capital Management LLC increased its holdings in AtriCure by 29.8% during the fourth 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 AtriCure by 37.1% in the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company's stock worth $18,922,000 after acquiring an additional 167,476 shares during the period. Oberweis Asset Management Inc. purchased a new position in AtriCure in the fourth quarter valued at about $4,630,000. Finally, Dimensional Fund Advisors LP grew its position in shares of AtriCure by 24.1% during 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 acquiring an additional 136,015 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Transactions at AtriCure

In other news, Director Karen Prange sold 6,100 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, 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 at this link. Company insiders own 3.50% of the company's stock.

AtriCure Stock Down 1.1%

AtriCure stock traded down $0.38 during trading hours on Wednesday, hitting $33.67. The stock had a trading volume of 32,216 shares, compared to its average volume of 650,256. The stock's 50-day moving average price is $32.40 and its 200-day moving average price is $34.86. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $43.11. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.67 billion, a P/E ratio of -35.48 and a beta of 1.57.

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

Analyst Ratings Changes

ATRC has been the topic of a number of research reports. UBS Group lowered their price target on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Piper Sandler upped their price target on AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC lowered their target price on shares of AtriCure from $51.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 price objective on shares of AtriCure in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their price target on AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.67.

AtriCure 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.