AtriCure, Inc. (NASDAQ:ATRC) Shares Acquired by Royce & Associates LP

Royce & Associates LP lifted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,785 shares of the medical device company’s stock after purchasing an additional 4,800 shares during the quarter. Royce & Associates LP owned about 0.13% of AtriCure worth $1,817,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC raised its position in AtriCure by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after buying an additional 659 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in AtriCure by 34.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,859 shares of the medical device company’s stock valued at $543,000 after purchasing an additional 4,560 shares during the period. Bessemer Group Inc. boosted its holdings in AtriCure by 29.7% in the 1st quarter. Bessemer Group Inc. now owns 35,500 shares of the medical device company’s stock valued at $1,080,000 after purchasing an additional 8,120 shares in the last quarter. Natixis purchased a new position in shares of AtriCure during the 1st quarter worth approximately $9,126,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of AtriCure in the 1st quarter valued at approximately $224,000. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Price Performance

ATRC stock opened at $36.34 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The stock’s 50 day moving average price is $30.24 and its 200 day moving average price is $25.52. The firm has a market cap of $1.77 billion, a P/E ratio of -43.78 and a beta of 1.41. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $43.00.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.20) earnings per share. On average, sell-side analysts expect that AtriCure, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ATRC has been the subject of several research analyst reports. Needham & Company LLC increased their price objective on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BTIG Research dropped their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler reduced their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus lowered their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.11.

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.