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

Focus Partners Wealth acquired a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,306 shares of the medical device company's stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ATRC. Blue Trust Inc. increased its holdings in AtriCure by 1.8% during the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after purchasing an additional 265 shares during the last quarter. KBC Group NV increased its holdings in AtriCure by 65.3% during the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock worth $72,000 after purchasing an additional 932 shares during the last quarter. R Squared Ltd purchased a new stake in AtriCure during the 4th quarter worth approximately $89,000. Heck Capital Advisors LLC bought a new stake in shares of AtriCure in the 4th quarter valued at approximately $60,000. Finally, Calamos Advisors LLC increased its holdings in shares of AtriCure by 27.9% in the 4th quarter. Calamos Advisors LLC now owns 110,671 shares of the medical device company's stock valued at $3,382,000 after acquiring an additional 24,147 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Stock Performance

ATRC traded down $0.10 during trading on Friday, reaching $32.71. 330,069 shares of the company were exchanged, compared to its average volume of 652,208. The stock has a market cap of $1.62 billion, a P/E ratio of -34.43 and a beta of 1.57. The firm has a 50 day moving average of $32.40 and a 200 day moving average of $34.84. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.11. The firm 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 firm's revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.28) EPS. On average, sell-side analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, Director Karen Prange sold 6,100 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was 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 in the company, valued at approximately $679,603.36. The trade was a 25.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer boosted their price target on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Stifel Nicolaus boosted their price target on AtriCure from $36.00 to $48.00 and gave the company a "buy" 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. UBS Group lowered their price target on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Needham & Company LLC lowered their price target on AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.