Orion Portfolio Solutions LLC Trims Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Orion Portfolio Solutions LLC trimmed its stake in AtriCure, Inc. (NASDAQ:ATRC) by 50.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 40,621 shares of the medical device company’s stock after selling 40,829 shares during the period. Orion Portfolio Solutions LLC’s holdings in AtriCure were worth $1,139,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arcadia Investment Management Corp MI purchased a new stake in shares of AtriCure in the 3rd quarter valued at approximately $28,000. Comerica Bank raised its stake in shares of AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after acquiring an additional 1,043 shares during the period. nVerses Capital LLC raised its stake in shares of AtriCure by 733.3% in the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after acquiring an additional 4,400 shares during the period. Quest Partners LLC raised its stake in shares of AtriCure by 38.3% in the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after acquiring an additional 1,626 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of AtriCure in the 3rd quarter valued at approximately $230,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Trading Down 3.4 %

NASDAQ ATRC opened at $31.67 on Friday. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $39.04. The stock has a market capitalization of $1.54 billion, a PE ratio of -38.16 and a beta of 1.40. The firm has a 50 day moving average of $32.93 and a two-hundred day moving average of $27.21.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The company had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter in the previous year, the business posted ($0.20) EPS. The firm’s revenue was up 17.9% on a year-over-year basis. As a group, research analysts expect that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ATRC shares. Oppenheimer lifted their price objective on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a report on Monday, December 9th. Needham & Company LLC lifted their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.