AtriCure, Inc. (NASDAQ:ATRC) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 756.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,100 shares of the medical device company's stock after acquiring an additional 31,000 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of AtriCure worth $1,073,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new position in AtriCure during the fourth quarter valued at approximately $60,000. Venturi Wealth Management LLC grew its holdings in shares of AtriCure by 1,337.6% in the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after purchasing an additional 2,100 shares during the last quarter. KBC Group NV increased its position in shares of AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock worth $72,000 after acquiring an additional 932 shares during the period. R Squared Ltd purchased a new position in AtriCure during the 4th quarter worth $89,000. Finally, AlphaQuest LLC raised its holdings in shares of AtriCure by 855.1% in the fourth quarter. AlphaQuest LLC now owns 5,062 shares of the medical device company's stock valued at $155,000 after acquiring an additional 4,532 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

AtriCure Price Performance

Shares of NASDAQ:ATRC traded down $4.74 during trading on Wednesday, reaching $29.91. The stock had a trading volume of 2,416,061 shares, compared to its average volume of 663,366. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $43.11. The stock has a market cap of $1.48 billion, a PE ratio of -31.48 and a beta of 1.65. The business has a fifty day moving average price of $33.95 and a 200-day moving average price of $34.66. 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 posted 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 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 business's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.28) earnings per share. On average, equities analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Activity

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the transaction, the director now owns 17,828 shares of the company's stock, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ATRC shares. JMP Securities restated a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a report on Wednesday. Oppenheimer boosted their price objective on shares of AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. BTIG Research reiterated a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Canaccord Genuity Group decreased their price objective on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, 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. 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, AtriCure presently has an average rating of "Moderate Buy" and an average price target 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.