Creative Planning Acquires New Position in AtriCure, Inc. (NASDAQ:ATRC)

Creative Planning acquired a new stake in AtriCure, Inc. (NASDAQ:ATRC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,443 shares of the medical device company’s stock, valued at approximately $321,000.

Other hedge funds have also recently modified their holdings of the company. Comerica Bank grew its holdings in shares of AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares during the period. Quest Partners LLC lifted its position in AtriCure by 38.3% in the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after buying an additional 1,626 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its position in AtriCure by 32.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after buying an additional 2,368 shares during the last quarter. ProShare Advisors LLC lifted its position in AtriCure by 8.5% in the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after buying an additional 659 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in AtriCure by 4.0% in the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock valued at $308,000 after buying an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ATRC. Canaccord Genuity Group upped their target price on shares of AtriCure from $49.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC upped their target price on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BTIG Research decreased their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. UBS Group upped their target price on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer increased their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

Insider Activity at AtriCure

In related 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 value of $84,245.00. Following the sale, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by corporate insiders.

AtriCure Stock Up 0.2 %

Shares of ATRC opened at $37.45 on Friday. The stock has a market capitalization of $1.83 billion, a PE ratio of -45.12 and a beta of 1.41. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $43.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The company’s 50-day simple moving average is $29.06 and its 200-day simple moving average is $24.96.

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

About AtriCure

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.