AtriCure, Inc. (NASDAQ:ATRC) Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp raised its stake in AtriCure, increasing holdings by 91.6% with an additional 13,929 shares, bringing total ownership to 29,143 shares valued at approximately $940,000.
• Multiple large investors have also enhanced their positions in AtriCure, with notable increases from JPMorgan Chase (43.1% increase) and GAMMA Investing (9,664.9% increase) in the first quarter.
• AtriCure's stock has seen a slight decline of 2.7% recently, trading at $36.52, while the company reported better-than-expected quarterly earnings with revenue up 17.1% year-over-year.

Mackenzie Financial Corp boosted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 91.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,143 shares of the medical device company's stock after acquiring an additional 13,929 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of AtriCure worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its holdings in shares of AtriCure by 135.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock valued at $47,000 after buying an additional 832 shares during the period. Johnson Financial Group Inc. lifted its holdings in shares of AtriCure by 1,184.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock valued at $49,000 after buying an additional 1,492 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of AtriCure in the 4th quarter valued at approximately $60,000. State of Wyoming lifted its holdings in shares of AtriCure by 21.9% in the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock valued at $76,000 after buying an additional 446 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of AtriCure by 232.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company's stock valued at $88,000 after buying an additional 2,008 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on ATRC shares. Needham & Company LLC raised their price target on AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. JMP Securities reissued a "market outperform" rating and issued a $60.00 price target on shares of AtriCure in a report on Wednesday, April 30th. BTIG Research set a $54.00 price target on AtriCure in a report on Wednesday, July 30th. UBS Group reduced their price objective on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen raised AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $50.89.

AtriCure Price Performance

AtriCure stock traded down $0.59 during mid-day trading on Friday, hitting $35.31. 398,416 shares of the company were exchanged, compared to its average volume of 712,018. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. The business's 50 day simple moving average is $32.62 and its two-hundred day simple moving average is $34.25. The company has a market capitalization of $1.75 billion, a P/E ratio of -45.86 and a beta of 1.61. AtriCure, Inc. has a 12-month low of $20.44 and a 12-month high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. The company had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%. AtriCure's revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. Analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Regina E. Groves sold 2,452 shares of AtriCure stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total value of $90,282.64. Following the completion of the sale, the director owned 33,715 shares of the company's stock, valued at $1,241,386.30. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vinayak Doraiswamy sold 2,500 shares of AtriCure stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $36.58, for a total value of $91,450.00. Following the completion of the sale, the insider directly owned 71,872 shares of the company's stock, valued at approximately $2,629,077.76. This represents a 3.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,452 shares of company stock valued at $265,333. Company insiders own 3.50% of the company's stock.

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.