PDT Partners LLC Buys New Shares in AtriCure, Inc. (NASDAQ:ATRC)

PDT Partners LLC purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 23,701 shares of the medical device company’s stock, valued at approximately $665,000.

A number of other hedge funds also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new position in shares of AtriCure in the 3rd quarter worth $28,000. Comerica Bank increased its stake in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after acquiring an additional 1,043 shares during the last quarter. Quest Partners LLC raised its holdings in shares of AtriCure by 38.3% in the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after purchasing an additional 1,626 shares during the period. nVerses Capital LLC lifted its stake in shares of AtriCure by 733.3% in the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its holdings in shares of AtriCure by 32.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after purchasing an additional 2,368 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ATRC shares. Needham & Company LLC raised their price target on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price objective on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their target price on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.00.

AtriCure Stock Up 2.5 %

Shares of AtriCure stock opened at $37.06 on Tuesday. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $39.04. The company has a market capitalization of $1.81 billion, a PE ratio of -44.65 and a beta of 1.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The business has a 50-day moving average of $31.87 and a 200-day moving average of $26.52.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The firm had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. During the same quarter last year, the firm earned ($0.20) EPS. AtriCure’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, equities analysts forecast that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

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.