Mackenzie Financial Corp Acquires 1,575 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Mackenzie Financial Corp grew its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 14.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,295 shares of the medical device company’s stock after purchasing an additional 1,575 shares during the quarter. Mackenzie Financial Corp’s holdings in AtriCure were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. WCM Investment Management LLC raised its holdings in shares of AtriCure by 7.7% during the 4th quarter. WCM Investment Management LLC now owns 221,416 shares of the medical device company’s stock valued at $8,133,000 after purchasing an additional 15,820 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in AtriCure by 2.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company’s stock valued at $758,000 after buying an additional 484 shares during the last quarter. HighMark Wealth Management LLC grew its stake in AtriCure by 223.0% in the 4th quarter. HighMark Wealth Management LLC now owns 9,125 shares of the medical device company’s stock valued at $326,000 after buying an additional 6,300 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in AtriCure by 28.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 259,169 shares of the medical device company’s stock valued at $9,250,000 after buying an additional 56,761 shares during the last quarter. Finally, Diversified Trust Co grew its stake in AtriCure by 46.8% in the 4th quarter. Diversified Trust Co now owns 27,283 shares of the medical device company’s stock valued at $974,000 after buying an additional 8,703 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In other news, insider Karl S. Dahlquist sold 8,231 shares of AtriCure stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the sale, the insider now directly owns 52,839 shares in the company, valued at approximately $1,974,065.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Karl S. Dahlquist sold 8,231 shares of AtriCure stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the transaction, the insider now directly owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the transaction, the insider now directly owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,116 shares of company stock worth $468,797. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ATRC. Stifel Nicolaus lowered their target price on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 target price on shares of AtriCure in a research note on Wednesday, April 10th. UBS Group raised their price target on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Oppenheimer upgraded shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Tuesday. Finally, StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.63.

AtriCure Price Performance

Shares of AtriCure stock opened at $23.17 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57. The firm’s 50-day simple moving average is $29.83 and its 200-day simple moving average is $33.65. AtriCure, Inc. has a twelve month low of $22.07 and a twelve month high of $59.61. The firm has a market cap of $1.12 billion, a P/E ratio of -35.11 and a beta of 1.38.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The business had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. During the same period in the previous year, the business earned ($0.09) EPS. The firm’s revenue was up 21.0% on a year-over-year basis. As a group, research analysts expect that AtriCure, Inc. will post -0.71 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.