Geode Capital Management LLC Has $35.19 Million Stake in AtriCure, Inc. (NASDAQ:ATRC)

Geode Capital Management LLC lowered its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,151,049 shares of the medical device company’s stock after selling 1,579 shares during the period. Geode Capital Management LLC owned approximately 2.36% of AtriCure worth $35,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ATRC. State Street Corp raised its position in AtriCure by 4.9% in the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after buying an additional 63,002 shares during the last quarter. Silver Oak Securities Incorporated purchased a new position in shares of AtriCure in the fourth quarter valued at $220,000. JPMorgan Chase & Co. boosted its position in shares of AtriCure by 43.1% in the fourth quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company’s stock valued at $11,160,000 after acquiring an additional 110,039 shares during the period. Calamos Advisors LLC increased its holdings in shares of AtriCure by 27.9% in the fourth quarter. Calamos Advisors LLC now owns 110,671 shares of the medical device company’s stock worth $3,382,000 after purchasing an additional 24,147 shares during the period. Finally, M&T Bank Corp purchased a new position in shares of AtriCure during the fourth quarter worth about $208,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

ATRC has been the topic of several recent research reports. Piper Sandler increased their price objective on AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. BTIG Research restated a “buy” rating on shares of AtriCure in a report on Thursday, March 27th. JPMorgan Chase & Co. lowered their price objective on AtriCure from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Canaccord Genuity Group dropped their target price on AtriCure from $66.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $51.00 target price on shares of AtriCure in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

AtriCure Price Performance

NASDAQ ATRC opened at $32.08 on Thursday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -33.77 and a beta of 1.65. AtriCure, Inc. has a 12 month low of $18.94 and a 12 month high of $43.11. The company’s 50 day moving average is $35.49 and its two-hundred day moving average is $34.31. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13.

Insiders Place Their Bets

In other news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the transaction, the director now owns 17,828 shares in the company, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

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.