AtriCure, Inc. $ATRC Shares Purchased by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services raised its AtriCure stake by 20.4% to 511,213 shares (about 1.03% of the company) valued at approximately $20.2 million, while other institutions including Wellington and Kennedy also increased holdings, leaving institutional ownership at 99.11%.
• Insider Vinayak Doraiswamy sold 5,000 shares at an average price of $29.83 on March 12, reducing his position to 96,875 shares; company insiders now own about 3.50% of the stock.
• Analysts rate ATRC a consensus "Moderate Buy" with an average price target of $48.43 versus the recent share price near $29.37, and the company recently beat EPS estimates (reported $0.06 vs. -$0.04) with revenue up 13.1% YoY.

Massachusetts Financial Services Co. MA lifted its position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,213 shares of the medical device company's stock after acquiring an additional 86,532 shares during the period. Massachusetts Financial Services Co. MA owned 1.03% of AtriCure worth $20,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ATRC. Wellington Management Group LLP boosted its stake in shares of AtriCure by 8.1% in the third quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company's stock worth $151,296,000 after acquiring an additional 322,818 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in shares of AtriCure by 36.2% in the third quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company's stock worth $29,501,000 after acquiring an additional 222,529 shares during the last quarter. Oberweis Asset Management Inc. acquired a new stake in shares of AtriCure in the third quarter worth approximately $5,411,000. First Trust Advisors LP acquired a new stake in shares of AtriCure in the second quarter worth approximately $4,353,000. Finally, Bank of America Corp DE boosted its stake in shares of AtriCure by 15.7% in the second quarter. Bank of America Corp DE now owns 710,173 shares of the medical device company's stock worth $23,272,000 after acquiring an additional 96,313 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AtriCure

In other news, insider Vinayak Doraiswamy sold 5,000 shares of the company's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the transaction, the insider owned 96,875 shares of the company's stock, valued at $2,889,781.25. This represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ATRC has been the topic of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and set a $45.00 price objective on shares of AtriCure in a research note on Thursday, February 12th. BTIG Research reissued a "buy" rating and set a $54.00 price objective on shares of AtriCure in a research note on Wednesday, February 18th. Zacks Research lowered AtriCure from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Citigroup reissued an "outperform" rating on shares of AtriCure in a research note on Wednesday, February 18th. Finally, Oppenheimer lowered AtriCure from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.43.

AtriCure Stock Performance

NASDAQ ATRC opened at $29.37 on Thursday. The stock's fifty day moving average is $30.70 and its two-hundred day moving average is $34.98. The firm has a market capitalization of $1.49 billion, a P/E ratio of -122.38 and a beta of 1.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96. AtriCure, Inc. has a fifty-two week low of $27.26 and a fifty-two week high of $43.18.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The business had revenue of $140.50 million for the quarter, compared to analyst estimates of $140.50 million. During the same quarter in the prior year, the company posted ($0.33) EPS. The company's quarterly revenue was up 13.1% on a year-over-year basis. On average, research analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current year.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company's solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company's product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.

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