AtriCure, Inc. (NASDAQ:ATRC) Shares Purchased by Kennedy Capital Management LLC

Kennedy Capital Management LLC increased its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 115.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 227,193 shares of the medical device company’s stock after buying an additional 121,752 shares during the period. Kennedy Capital Management LLC owned 0.48% of AtriCure worth $6,911,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its stake in shares of AtriCure by 31.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 68,188 shares of the medical device company’s stock worth $2,434,000 after acquiring an additional 16,168 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in AtriCure by 165.8% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock worth $4,409,000 after purchasing an additional 77,055 shares in the last quarter. Bridger Management LLC acquired a new stake in AtriCure in the fourth quarter valued at approximately $3,109,000. Wellington Management Group LLP increased its position in shares of AtriCure by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock valued at $47,448,000 after buying an additional 95,824 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of AtriCure by 38.0% during the 4th quarter. Panagora Asset Management Inc. now owns 229,197 shares of the medical device company’s stock worth $8,180,000 after buying an additional 63,079 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ATRC shares. JPMorgan Chase & Co. dropped their price target on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Piper Sandler dropped their target price on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday. Canaccord Genuity Group cut their target price on shares of AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Oppenheimer upgraded shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research report on Tuesday, April 23rd. Finally, Needham & Company LLC lowered their price objective on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, AtriCure has a consensus rating of “Moderate Buy” and a consensus price target of $43.63.

AtriCure Price Performance

ATRC traded down $1.20 on Wednesday, reaching $20.80. 361,034 shares of the company’s stock were exchanged, compared to its average volume of 772,652. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $57.77. The stock has a market cap of $989.87 million, a PE ratio of -27.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.83. The stock’s fifty day moving average price is $22.66 and its 200-day moving average price is $27.06.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The business had revenue of $116.27 million for the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) EPS. Sell-side analysts expect that AtriCure, Inc. will post -0.75 EPS for the current year.

Insiders Place Their Bets

In related news, insider Salvatore Privitera bought 5,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $22.25 per share, with a total value of $111,250.00. Following the purchase, the insider now directly owns 103,290 shares of the company’s stock, valued at $2,298,202.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.20% of the stock is currently owned by corporate insiders.

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.