Harbor Capital Advisors Inc. Takes $916,000 Position in AtriCure, Inc. (NASDAQ:ATRC)

Harbor Capital Advisors Inc. acquired a new position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,388 shares of the medical device company's stock, valued at approximately $916,000. Harbor Capital Advisors Inc. owned 0.06% of AtriCure as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ATRC. Johnson Financial Group Inc. increased its position in AtriCure by 1,184.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after buying an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of AtriCure during the 4th quarter valued at about $60,000. Venturi Wealth Management LLC grew its stake in shares of AtriCure by 1,337.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock valued at $69,000 after acquiring an additional 2,100 shares during the period. State of Wyoming increased its holdings in AtriCure by 21.9% in the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after acquiring an additional 446 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in AtriCure by 232.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company's stock worth $88,000 after acquiring an additional 2,008 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

AtriCure Price Performance

NASDAQ ATRC traded up $0.29 on Tuesday, reaching $32.60. The company had a trading volume of 696,994 shares, compared to its average volume of 646,261. The stock has a market capitalization of $1.61 billion, a PE ratio of -40.25 and a beta of 1.59. 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 2.88, a current ratio of 4.11 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average price is $32.56 and its 200 day moving average price is $34.50.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.11. AtriCure had a negative return on equity of 5.68% and a negative net margin of 7.95%. The firm had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. During the same quarter last year, the business posted ($0.28) earnings per share. The business's quarterly revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a research report on Friday, March 28th. BTIG Research restated a "buy" rating on shares of AtriCure in a research note on Thursday, March 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 target price on shares of AtriCure in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, UBS Group decreased their price target on AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

Insider Buying and Selling at AtriCure

In related news, insider Vinayak Doraiswamy sold 2,500 shares of the company'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 sale, the insider now owns 73,550 shares of the company's stock, valued at $2,459,512. This represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is currently owned by company insiders.

AtriCure Company 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.