Focus Partners Wealth Makes New $498,000 Investment in AtriCure, Inc. (NASDAQ:ATRC)

Focus Partners Wealth bought a new position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,306 shares of the medical device company's stock, valued at approximately $498,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ATRC. Hood River Capital Management LLC boosted its position in shares of AtriCure by 3.3% in the 4th quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock valued at $89,349,000 after purchasing an additional 93,131 shares during the period. First Light Asset Management LLC raised its holdings in AtriCure by 5.6% during the 4th quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock worth $60,179,000 after buying an additional 103,685 shares during the period. Kennedy Capital Management LLC lifted its stake 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 valued at $22,999,000 after buying an additional 172,648 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AtriCure by 24.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 700,212 shares of the medical device company's stock worth $21,398,000 after buying an additional 136,015 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of 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 buying an additional 167,476 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AtriCure

In other news, Director Karen Prange sold 6,100 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the transaction, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

AtriCure Stock Down 0.3%

Shares of NASDAQ:ATRC traded down $0.10 during midday trading on Monday, hitting $32.71. 330,069 shares of the stock were exchanged, compared to its average volume of 650,988. The business's fifty day simple moving average is $32.34 and its two-hundred day simple moving average is $34.75. 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, Inc. has a 52-week low of $18.94 and a 52-week high of $43.11. The company has a market capitalization of $1.62 billion, a PE ratio of -34.43 and a beta of 1.57.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.11. The company had revenue of $123.62 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the business earned ($0.28) EPS. As a group, research analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ATRC shares. BTIG Research restated a "buy" rating on shares of AtriCure in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut their target price 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 decreased their target price on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a research report on Friday, March 28th. 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. Finally, Oppenheimer lifted their target price on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, AtriCure currently has an average rating of "Buy" and a consensus 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.