Centiva Capital LP Makes New $510,000 Investment in AtriCure, Inc. (NASDAQ:ATRC)

Centiva Capital LP acquired a new stake in AtriCure, Inc. (NASDAQ:ATRC) in the 4th quarter, Holdings Channel reports. The fund acquired 16,687 shares of the medical device company’s stock, valued at approximately $510,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its position in AtriCure by 1.8% in the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock worth $414,000 after purchasing an additional 265 shares during the period. Invesco Ltd. boosted its stake in AtriCure by 0.8% during the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock valued at $1,334,000 after buying an additional 334 shares in the last quarter. Perkins Capital Management Inc. grew its holdings in AtriCure by 1.3% during the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock worth $927,000 after acquiring an additional 400 shares during the period. Truist Financial Corp raised its position in AtriCure by 2.6% in the fourth quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after acquiring an additional 403 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in AtriCure by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock valued at $1,569,000 after acquiring an additional 484 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Oppenheimer upped their price target on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Needham & Company LLC reduced their price objective on AtriCure from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. UBS Group cut their target price on AtriCure from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their price target on AtriCure from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.67.

Insider Activity

In other AtriCure news, Director Karen Prange sold 6,100 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now directly owns 17,828 shares of the company’s stock, valued at $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

AtriCure Stock Down 0.6 %

Shares of AtriCure stock opened at $30.99 on Friday. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $43.11. The stock has a 50-day moving average price of $32.71 and a 200 day moving average price of $34.74. The company has a market cap of $1.53 billion, a P/E ratio of -32.62 and a beta of 1.57.

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

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.