Citigroup Inc. Purchases 36,839 Shares of AtriCure, Inc. $ATRC

Citigroup Inc. raised its position in AtriCure, Inc. (NASDAQ:ATRC) by 182.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,085 shares of the medical device company’s stock after purchasing an additional 36,839 shares during the period. Citigroup Inc. owned 0.11% of AtriCure worth $2,012,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of AtriCure by 1.0% during the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock valued at $2,700,000 after acquiring an additional 837 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of AtriCure by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock worth $908,000 after purchasing an additional 1,230 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in AtriCure by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock valued at $27,830,000 after purchasing an additional 8,956 shares in the last quarter. Jane Street Group LLC raised its stake in AtriCure by 658.3% in the first quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock valued at $3,254,000 after purchasing an additional 87,553 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of AtriCure during the 1st quarter worth $158,000. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ATRC has been the subject of several research reports. BTIG Research reiterated a “buy” rating and issued a $54.00 target price on shares of AtriCure in a research report on Wednesday, February 18th. Canaccord Genuity Group lowered their price target on AtriCure from $64.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Oppenheimer lowered AtriCure from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of AtriCure in a research report on Thursday, February 12th. Finally, Citigroup reissued an “outperform” rating on shares of AtriCure in a report on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.43.

AtriCure Stock Performance

AtriCure stock opened at $30.02 on Monday. AtriCure, Inc. has a fifty-two week low of $28.29 and a fifty-two week high of $43.18. The stock’s 50 day simple moving average is $36.27 and its two-hundred day simple moving average is $36.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -125.08 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The company had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $140.50 million. During the same quarter last year, the business posted ($0.33) EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.