Assenagon Asset Management S.A. Acquires 6,995 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Assenagon Asset Management S.A. increased its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,096 shares of the medical device company’s stock after purchasing an additional 6,995 shares during the period. Assenagon Asset Management S.A. owned approximately 0.30% of AtriCure worth $4,713,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of AtriCure by 43.1% during the 4th 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. Ameriprise Financial Inc. bought a new position in shares of AtriCure during the 4th quarter valued at about $295,000. M&T Bank Corp bought a new position in shares of AtriCure during the 4th quarter valued at about $208,000. Sei Investments Co. lifted its holdings in shares of AtriCure by 6.1% during the 4th 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. Finally, HighMark Wealth Management LLC lifted its holdings in shares of AtriCure by 19.2% during the 4th quarter. HighMark Wealth Management LLC now owns 83,725 shares of the medical device company’s stock valued at $2,559,000 after purchasing an additional 13,500 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Stock Down 2.2%

NASDAQ:ATRC opened at $31.62 on Monday. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -33.28 and a beta of 1.59. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.11. The stock’s 50 day moving average price is $32.53 and its two-hundred day moving average price is $34.54. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13.

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

Insiders Place Their Bets

In other news, insider Vinayak Doraiswamy sold 2,500 shares of AtriCure stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $33.44, for a total transaction of $83,600.00. Following the completion of the transaction, the insider now directly owns 73,550 shares in the company, valued at approximately $2,459,512. The trade was a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ATRC. Wall Street Zen lowered AtriCure from a “buy” rating to a “hold” rating in a research report on Sunday, June 1st. JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a research report on Wednesday, April 30th. Needham & Company LLC dropped their target price on AtriCure from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. 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 research report on Friday, March 28th. Finally, BTIG Research reissued a “buy” rating on shares of AtriCure in a research report on Thursday, March 27th. One 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 an average rating of “Moderate Buy” and an average target price of $50.67.

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.