Mirae Asset Global Investments Co. Ltd. Boosts Position in AtriCure, Inc. (NASDAQ:ATRC)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,237 shares of the medical device company’s stock after purchasing an additional 484 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in AtriCure were worth $758,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new stake in AtriCure during the third quarter worth $27,000. Arcadia Investment Management Corp MI purchased a new stake in AtriCure during the third quarter worth $28,000. Allspring Global Investments Holdings LLC boosted its position in AtriCure by 31.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock worth $91,000 after purchasing an additional 497 shares in the last quarter. HighMark Wealth Management LLC boosted its position in AtriCure by 175.6% during the third quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company’s stock worth $124,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in AtriCure by 38.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,715 shares of the medical device company’s stock worth $382,000 after purchasing an additional 2,408 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the sale, the insider now owns 72,784 shares in the company, valued at approximately $2,211,905.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AtriCure news, insider Karl S. Dahlquist sold 1,885 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the completion of the sale, the insider now owns 50,954 shares in the company, valued at approximately $1,638,680.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $30.39, for a total value of $45,585.00. Following the sale, the insider now owns 72,784 shares of the company’s stock, valued at approximately $2,211,905.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,116 shares of company stock worth $468,797. 3.20% of the stock is currently owned by corporate insiders.

AtriCure Price Performance

ATRC stock opened at $23.05 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57. AtriCure, Inc. has a 1 year low of $22.27 and a 1 year high of $59.61. The firm has a market cap of $1.12 billion, a P/E ratio of -34.92 and a beta of 1.38. The stock has a 50-day simple moving average of $30.25 and a 200-day simple moving average of $33.84.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The business had revenue of $106.50 million during the quarter, compared to analyst estimates of $103.68 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities analysts predict that AtriCure, Inc. will post -0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ATRC has been the subject of a number of analyst reports. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $46.00 price objective on shares of AtriCure in a research report on Wednesday, April 10th. UBS Group upped their price objective on AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Stifel Nicolaus reduced their price objective on AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, StockNews.com downgraded AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and an average price target of $52.63.

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.