Man Group plc Invests $745,000 in AtriCure, Inc. (NASDAQ:ATRC)

Man Group plc purchased a new position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,368 shares of the medical device company's stock, valued at approximately $745,000.

A number of other large investors have also added to or reduced their stakes in the stock. Johnson Financial Group Inc. grew its stake in shares of 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 acquiring an additional 1,492 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in AtriCure in the fourth quarter worth about $60,000. Venturi Wealth Management LLC lifted its stake in shares of AtriCure by 1,337.6% in the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after buying an additional 2,100 shares in the last quarter. KBC Group NV grew its holdings in shares of AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock valued at $72,000 after buying an additional 932 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of AtriCure by 232.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company's stock valued at $88,000 after acquiring an additional 2,008 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Insider Buying and Selling at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now directly owns 17,828 shares of the company's stock, valued at approximately $679,603.36. The trade was a 25.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.50% of the company's stock.

AtriCure Stock Performance

Shares of NASDAQ:ATRC traded up $0.41 during mid-day trading on Friday, reaching $34.49. 33,316 shares of the company traded hands, compared to its average volume of 608,760. The company's 50 day moving average price is $32.32 and its 200-day moving average price is $34.73. The firm has a market cap of $1.71 billion, a PE ratio of -36.30 and a beta of 1.57. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $43.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. The business had revenue of $123.62 million for the quarter, compared to the consensus estimate of $122.92 million. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The company'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 earned ($0.28) earnings per share. On average, equities analysts expect that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ATRC shares. Piper Sandler lifted their target price on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Oppenheimer increased their price objective on shares of AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Stifel Nicolaus increased 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. Finally, Canaccord Genuity Group cut their price objective on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AtriCure has a consensus rating of "Buy" and an average 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.