PDT Partners LLC Has $1.20 Million Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

PDT Partners LLC increased its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 65.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,327 shares of the medical device company's stock after purchasing an additional 15,626 shares during the quarter. PDT Partners LLC owned 0.08% of AtriCure worth $1,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hood River Capital Management LLC boosted its holdings in shares of AtriCure by 3.3% in the fourth quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock worth $89,349,000 after buying an additional 93,131 shares during the period. First Light Asset Management LLC lifted its holdings in shares of AtriCure by 5.6% in the fourth quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock valued at $60,179,000 after purchasing an additional 103,685 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of AtriCure by 29.8% during the fourth quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company's stock valued at $22,999,000 after buying an additional 172,648 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in AtriCure by 24.1% in the 4th 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. Finally, Marshall Wace LLP lifted its stake in AtriCure by 37.1% in the 4th quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company's stock worth $18,922,000 after acquiring an additional 167,476 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ATRC has been the topic of a number of research reports. Canaccord Genuity Group dropped their target price on AtriCure from $66.00 to $52.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Piper Sandler increased their target price on shares of AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Oppenheimer boosted their price target on shares of AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Stifel Nicolaus increased their price objective on AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Needham & Company LLC lowered their target price on AtriCure from $51.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.67.

Insider Activity

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the sale, the director now owns 17,828 shares of the company's stock, valued at $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is owned by company insiders.

AtriCure Stock Performance

AtriCure stock traded down $0.90 during trading hours on Monday, reaching $29.12. 525,404 shares of the company were exchanged, compared to its average volume of 655,146. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -30.65 and a beta of 1.65. AtriCure, Inc. has a 12 month low of $18.94 and a 12 month high of $43.11. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $33.57 and a 200 day moving average of $34.77.

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 analysts' consensus estimates 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 firm had revenue of $123.62 million during the quarter, compared to the consensus estimate of $122.92 million. During the same period in the prior year, the firm earned ($0.28) EPS. The business's revenue was up 13.5% on a year-over-year basis. As a group, research analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current year.

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.