Ameriprise Financial Inc. Makes New Investment in AtriCure, Inc. (NASDAQ:ATRC)

Ameriprise Financial Inc. purchased a new stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,638 shares of the medical device company's stock, valued at approximately $295,000.

Other large investors have also modified their holdings of the company. Hood River Capital Management LLC boosted its position in AtriCure by 3.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock worth $89,349,000 after acquiring an additional 93,131 shares during the last quarter. First Light Asset Management LLC boosted its position in AtriCure by 5.6% during the fourth quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock worth $60,179,000 after acquiring an additional 103,685 shares during the last quarter. Kennedy Capital Management LLC boosted its position 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 acquiring an additional 172,648 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in AtriCure by 24.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock worth $21,398,000 after acquiring an additional 136,015 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in AtriCure by 37.1% during 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 last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ATRC. Needham & Company LLC decreased their target price on shares of AtriCure from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price target on shares of AtriCure in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Canaccord Genuity Group cut their price target on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, UBS Group cut their price target on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.67.

Insider Activity at AtriCure

In related news, insider Vinayak Doraiswamy sold 2,500 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $33.44, for a total transaction of $83,600.00. Following the completion of the sale, the insider now directly owns 73,550 shares of the company's stock, valued at approximately $2,459,512. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.50% of the company's stock.

AtriCure Trading Up 0.2%

Shares of ATRC stock traded up $0.07 during mid-day trading on Friday, reaching $34.94. The company's stock had a trading volume of 371,162 shares, compared to its average volume of 648,081. The company's 50 day simple moving average is $32.45 and its 200-day simple moving average is $34.66. 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 firm has a market capitalization of $1.73 billion, a PE ratio of -36.78 and a beta of 1.59.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The business had revenue of $123.62 million for the quarter, compared to the consensus estimate of $122.92 million. During the same quarter last year, the firm posted ($0.28) EPS. The business's revenue for the quarter was up 13.5% compared to the same quarter last year. On average, research analysts predict that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

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.