LMR Partners LLP Invests $499,000 in AtriCure, Inc. (NASDAQ:ATRC)

LMR Partners LLP purchased a new position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,313 shares of the medical device company's stock, valued at approximately $499,000.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of AtriCure by 0.9% during the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock valued at $1,569,000 after buying an additional 484 shares during the period. Blue Trust Inc. raised its stake in AtriCure by 1.8% in the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after buying an additional 265 shares in the last quarter. KBC Group NV raised its stake in AtriCure by 65.3% in the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock worth $72,000 after buying an additional 932 shares in the last quarter. R Squared Ltd acquired a new position in shares of AtriCure during the fourth quarter worth $89,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of AtriCure during the fourth quarter valued at $60,000. 99.11% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Karen Prange sold 6,100 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 17,828 shares of the company's stock, valued at approximately $679,603.36. This represents a 25.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company's stock.

AtriCure Stock Up 3.9%

Shares of NASDAQ:ATRC traded up $1.25 during trading on Tuesday, hitting $33.65. The company's stock had a trading volume of 125,555 shares, compared to its average volume of 650,822. The business has a 50 day moving average price of $32.40 and a two-hundred day moving average price of $34.86. The company has a market capitalization of $1.67 billion, a PE ratio of -35.35 and a beta of 1.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The business had revenue of $123.62 million during the quarter, compared to analysts' expectations of $122.92 million. During the same period in the previous year, the company earned ($0.28) EPS. The company's revenue for the quarter was up 13.5% on a year-over-year basis. As a group, research analysts expect that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group lowered their price target on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Oppenheimer upped their price objective on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Stifel Nicolaus upped their price target on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. BTIG Research restated a "buy" rating on shares of AtriCure in a research report on Thursday, March 27th. Finally, UBS Group cut their price objective on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

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.