Algert Global LLC Has $2.45 Million Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Algert Global LLC lowered its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 3.9% in the third quarter, HoldingsChannel reports. The firm owned 87,412 shares of the medical device company’s stock after selling 3,510 shares during the period. Algert Global LLC’s holdings in AtriCure were worth $2,451,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of AtriCure by 4.0% during the 2nd quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after acquiring an additional 517 shares during the period. Bank of Montreal Can lifted its holdings in AtriCure by 4.0% during the 2nd quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock valued at $488,000 after purchasing an additional 831 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in AtriCure during the third quarter worth $28,000. Comerica Bank increased its holdings in shares of AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of AtriCure by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 24,919 shares of the medical device company’s stock valued at $567,000 after purchasing an additional 1,429 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Price Performance

AtriCure stock opened at $35.79 on Wednesday. The firm has a market cap of $1.74 billion, a PE ratio of -43.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The stock’s fifty day moving average price is $31.26 and its two-hundred day moving average price is $26.13. AtriCure, Inc. has a one year low of $18.94 and a one year high of $42.99.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The company had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter last year, the business earned ($0.20) earnings per share. AtriCure’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.

Analysts Set New Price Targets

ATRC has been the subject of several research analyst reports. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. JPMorgan Chase & Co. boosted their price objective on AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler lowered their target price on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Canaccord Genuity Group lifted their price target on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.11.

AtriCure 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.