Focus Partners Wealth Acquires Shares of 16,306 AtriCure, Inc. (NASDAQ:ATRC)

Focus Partners Wealth acquired a new stake in AtriCure, Inc. (NASDAQ:ATRC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,306 shares of the medical device company’s stock, valued at approximately $498,000.

A number of other hedge funds have also recently added to or reduced their stakes in ATRC. Silver Oak Securities Incorporated bought a new position in shares of AtriCure in the fourth quarter valued at approximately $220,000. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 110,039 shares in the last quarter. Calamos Advisors LLC lifted 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 valued at $3,382,000 after purchasing an additional 24,147 shares in the last quarter. M&T Bank Corp bought a new position in shares of AtriCure in the fourth quarter valued at approximately $208,000. Finally, Sei Investments Co. lifted its holdings in shares of AtriCure by 6.1% in the fourth quarter. Sei Investments Co. now owns 107,290 shares of the medical device company’s stock valued at $3,279,000 after purchasing an additional 6,152 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

In other news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares of the company’s stock, valued at approximately $679,603.36. The trade was a 25.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.

AtriCure Price Performance

Shares of NASDAQ ATRC opened at $34.05 on Wednesday. The stock has a market cap of $1.69 billion, a PE ratio of -35.84 and a beta of 1.57. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $43.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The stock has a fifty day moving average of $32.40 and a 200-day moving average of $34.86.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.11. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. The business had revenue of $123.62 million during the quarter, compared to analysts’ expectations of $122.92 million. During the same period in the previous year, the business earned ($0.28) earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Equities research analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Analysts Set New Price Targets

ATRC has been the topic of a number of recent research reports. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on AtriCure from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Stifel Nicolaus lifted their price target on AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC dropped their price target on AtriCure from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Piper Sandler lifted their price target on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

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.