Fmr LLC Increases Position in AtriCure Inc. (ATRC)

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Fmr LLC increased its stake in shares of AtriCure Inc. (NASDAQ:ATRC) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,255,607 shares of the medical device company’s stock after acquiring an additional 71,961 shares during the quarter. Fmr LLC owned about 14.86% of AtriCure worth $142,164,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ATRC. JPMorgan Chase & Co. increased its position in AtriCure by 105.1% during the first quarter. JPMorgan Chase & Co. now owns 14,208 shares of the medical device company’s stock worth $292,000 after acquiring an additional 7,281 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in AtriCure during the second quarter worth $301,000. BlueMountain Capital Management LLC increased its position in AtriCure by 121.8% during the second quarter. BlueMountain Capital Management LLC now owns 14,904 shares of the medical device company’s stock worth $403,000 after acquiring an additional 8,184 shares during the period. GSA Capital Partners LLP increased its position in AtriCure by 135.4% during the second quarter. GSA Capital Partners LLP now owns 26,054 shares of the medical device company’s stock worth $705,000 after acquiring an additional 14,984 shares during the period. Finally, Rhumbline Advisers increased its position in AtriCure by 9.5% during the second quarter. Rhumbline Advisers now owns 32,455 shares of the medical device company’s stock worth $878,000 after acquiring an additional 2,807 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Justin J. Noznesky sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $30.32, for a total value of $121,280.00. Following the sale, the senior vice president now owns 124,920 shares in the company, valued at approximately $3,787,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is currently owned by insiders.

ATRC opened at $31.93 on Tuesday. AtriCure Inc. has a fifty-two week low of $14.88 and a fifty-two week high of $36.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.37 and a current ratio of 3.16. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -38.47 and a beta of 0.16.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Thursday, November 1st. The medical device company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.02). AtriCure had a negative return on equity of 17.08% and a negative net margin of 10.41%. The business had revenue of $49.90 million for the quarter, compared to analyst estimates of $49.90 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts anticipate that AtriCure Inc. will post -0.72 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. ValuEngine upgraded shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. Canaccord Genuity lifted their price target on shares of AtriCure from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $39.00 price target on shares of AtriCure in a research note on Friday, October 12th. Finally, Stifel Nicolaus lifted their price target on shares of AtriCure from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. AtriCure presently has a consensus rating of “Buy” and a consensus price target of $33.60.

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About AtriCure

AtriCure, Inc provides atrial fibrillation solutions to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy; and EPi-Sense guided coagulation system used for the temporary cardiac signal sensing and recording during surgery.

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Institutional Ownership by Quarter for AtriCure (NASDAQ:ATRC)

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