JPMorgan Chase & Co. Acquires 110,039 Shares of AtriCure, Inc. (NASDAQ:ATRC)

JPMorgan Chase & Co. lifted its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 43.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,183 shares of the medical device company's stock after purchasing an additional 110,039 shares during the quarter. JPMorgan Chase & Co. owned 0.75% of AtriCure worth $11,160,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in shares of AtriCure during the 4th quarter worth about $60,000. Venturi Wealth Management LLC raised its holdings in AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after acquiring an additional 2,100 shares in the last quarter. KBC Group NV boosted its position in 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 purchasing an additional 932 shares during the last quarter. R Squared Ltd bought a new position in AtriCure in the fourth quarter valued at approximately $89,000. Finally, AlphaQuest LLC increased its position in shares of AtriCure by 855.1% during the 4th quarter. AlphaQuest LLC now owns 5,062 shares of the medical device company's stock worth $155,000 after purchasing an additional 4,532 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Price Performance

Shares of NASDAQ:ATRC traded down $0.07 during trading on Friday, hitting $32.01. 450,263 shares of the company were exchanged, compared to its average volume of 655,412. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $43.11. The company has a market capitalization of $1.56 billion, a P/E ratio of -33.69 and a beta of 1.65. The business's 50 day moving average is $35.10 and its 200-day moving average is $34.37.

Insiders Place Their Bets

In related news, Director Karen Prange sold 6,100 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the transaction, the director now owns 17,828 shares in the company, valued at $679,603.36. This trade represents a 25.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ATRC shares. JPMorgan Chase & Co. decreased their target price on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. JMP Securities reissued a "market outperform" rating and issued a $60.00 price objective on shares of AtriCure in a research report on Monday, February 10th. BTIG Research reaffirmed a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Needham & Company LLC reissued a "buy" rating and issued a $51.00 price objective on shares of AtriCure in a research report on Thursday, March 27th. Finally, Canaccord Genuity Group reduced their target price on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, AtriCure currently has a consensus rating of "Moderate Buy" and an average price target of $49.44.

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.