Emerald Mutual Fund Advisers Trust Has $7 Million Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Emerald Mutual Fund Advisers Trust decreased its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,504 shares of the medical device company’s stock after selling 5,737 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in AtriCure were worth $6,996,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Hood River Capital Management LLC bought a new position in shares of AtriCure in the 2nd quarter valued at about $40,422,000. First Light Asset Management LLC boosted its position in AtriCure by 42.1% during the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock valued at $44,736,000 after purchasing an additional 581,843 shares during the last quarter. Champlain Investment Partners LLC grew its stake in AtriCure by 27.3% in the first quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock valued at $81,556,000 after purchasing an additional 575,605 shares in the last quarter. Millennium Management LLC increased its position in shares of AtriCure by 132.5% during the 2nd quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock worth $21,694,000 after purchasing an additional 543,023 shares during the last quarter. Finally, Natixis bought a new stake in shares of AtriCure during the 1st quarter worth approximately $9,126,000. Institutional investors own 99.11% of the company’s stock.

AtriCure Stock Performance

NASDAQ:ATRC opened at $33.51 on Friday. The stock has a 50 day simple moving average of $28.02 and a 200 day simple moving average of $24.52. The stock has a market cap of $1.63 billion, a P/E ratio of -40.37 and a beta of 1.44. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $43.00. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.14% and a negative net margin of 8.70%. The company had revenue of $115.91 million during the quarter, compared to the consensus estimate of $112.23 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. Research analysts anticipate that AtriCure, Inc. will post -0.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

ATRC has been the subject of several analyst reports. UBS Group raised their target price on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer upped their target price on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus lowered their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, AtriCure currently has an average rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure 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.