Raymond James Financial Inc. Takes Position in AtriCure, Inc. (NASDAQ:ATRC)

Raymond James Financial Inc. purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 121,591 shares of the medical device company's stock, valued at approximately $3,716,000. Raymond James Financial Inc. owned about 0.25% of AtriCure as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its stake in shares of AtriCure by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock valued at $1,569,000 after purchasing an additional 484 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of AtriCure by 1.8% during the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after purchasing an additional 265 shares during the period. KBC Group NV grew its position in AtriCure by 65.3% in the 4th 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. R Squared Ltd purchased a new position in AtriCure in the 4th quarter valued at $89,000. Finally, Heck Capital Advisors LLC acquired a new position in AtriCure in the 4th quarter valued at $60,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler raised their target price on shares of AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their target price on AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Stifel Nicolaus raised 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. Oppenheimer upped their price objective on AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, UBS Group reduced their target price on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, AtriCure presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Insider Buying and Selling

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The stock was 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 in the company, valued at approximately $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.50% of the company's stock.

AtriCure Price Performance

AtriCure stock traded up $0.38 during trading hours on Friday, hitting $29.67. The stock had a trading volume of 184,531 shares, compared to its average volume of 661,595. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -31.28 and a beta of 1.65. 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, Inc. has a 1-year low of $18.94 and a 1-year high of $43.11. The stock's fifty day moving average is $33.76 and its two-hundred day moving average is $34.67.

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