Jennison Associates LLC Makes New $19.14 Million Investment in AtriCure, Inc. (NASDAQ:ATRC)

Jennison Associates LLC purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 593,270 shares of the medical device company's stock, valued at approximately $19,139,000. Jennison Associates LLC owned about 1.20% of AtriCure as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of ATRC. Adage Capital Partners GP L.L.C. acquired a new position in AtriCure during the 4th quarter valued at about $9,168,000. Kennedy Capital Management LLC raised its holdings in AtriCure by 29.8% during the 4th quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company's stock worth $22,999,000 after buying an additional 172,648 shares during the period. Marshall Wace LLP lifted its stake in AtriCure by 37.1% during the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company's stock valued at $18,922,000 after buying an additional 167,476 shares in the last quarter. Oberweis Asset Management Inc. acquired a new position in shares of AtriCure in the fourth quarter worth about $4,630,000. Finally, Dimensional Fund Advisors LP increased its position 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 acquiring an additional 136,015 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Buying and Selling

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction dated 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 owned 73,550 shares of the company's stock, valued at $2,459,512. This represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.50% of the company's stock.

AtriCure Stock Performance

Shares of NASDAQ ATRC traded down $0.65 during trading hours on Thursday, reaching $30.17. The stock had a trading volume of 405,044 shares, compared to its average volume of 393,360. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -37.25 and a beta of 1.56. AtriCure, Inc. has a twelve month low of $20.20 and a twelve month high of $43.11. The business's fifty day moving average is $32.30 and its two-hundred day moving average is $34.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.11 and a quick ratio of 2.88.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results 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. The business had revenue of $123.62 million for the quarter, compared to analysts' expectations of $122.92 million. AtriCure had a negative net margin of 7.95% and a negative return on equity of 5.68%. The firm's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. As a group, research analysts expect that AtriCure, Inc. will post -0.6 EPS for the current year.

Analysts Set New Price Targets

ATRC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. UBS Group decreased their target price on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Canaccord Genuity Group dropped 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. BTIG Research reiterated a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Finally, Wall Street Zen cut AtriCure from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.