Granahan Investment Management LLC lowered its stake in shares of AtriCure, Inc. (NASDAQ:ATRC – Get Rating) by 13.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,611 shares of the medical device company's stock after selling 15,676 shares during the quarter. Granahan Investment Management LLC owned approximately 0.21% of AtriCure worth $6,476,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ATRC. Millennium Management LLC boosted its position in AtriCure by 196.2% during the 4th quarter. Millennium Management LLC now owns 990,170 shares of the medical device company's stock valued at $68,847,000 after purchasing an additional 655,861 shares during the period. Alliancebernstein L.P. raised its stake in AtriCure by 18.7% during the 4th quarter. Alliancebernstein L.P. now owns 3,455,856 shares of the medical device company's stock valued at $240,286,000 after acquiring an additional 544,296 shares in the last quarter. First Light Asset Management LLC raised its stake in AtriCure by 35.8% during the 1st quarter. First Light Asset Management LLC now owns 1,364,812 shares of the medical device company's stock valued at $89,627,000 after acquiring an additional 359,823 shares in the last quarter. Invesco Ltd. raised its stake in AtriCure by 7.2% during the 4th quarter. Invesco Ltd. now owns 2,437,617 shares of the medical device company's stock valued at $169,487,000 after acquiring an additional 162,718 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in AtriCure during the 4th quarter valued at $7,265,000. Institutional investors and hedge funds own 95.21% of the company's stock.
Get AtriCure alerts:AtriCure Stock Up 2.7 %
Shares of AtriCure stock opened at $46.45 on Friday. The stock's fifty day moving average is $46.67 and its 200-day moving average is $50.34. The firm has a market capitalization of $2.16 billion, a PE ratio of 40.04 and a beta of 1.21. The company has a quick ratio of 2.93, a current ratio of 3.66 and a debt-to-equity ratio of 0.15. AtriCure, Inc. has a 12-month low of $32.83 and a 12-month high of $89.18.
AtriCure (NASDAQ:ATRC – Get Rating) last announced its earnings results on Tuesday, August 2nd. The medical device company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). AtriCure had a negative return on equity of 11.47% and a net margin of 17.62%. During the same period last year, the business earned ($0.30) EPS. Equities analysts anticipate that AtriCure, Inc. will post -1.09 earnings per share for the current year.Analyst Upgrades and Downgrades
Several brokerages have weighed in on ATRC. BTIG Research cut their target price on AtriCure from $94.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, June 24th. Stifel Nicolaus cut their target price on AtriCure from $70.00 to $50.00 in a research note on Monday, July 18th. Needham & Company LLC lifted their target price on AtriCure from $55.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, August 3rd. StockNews.com raised AtriCure from a "sell" rating to a "hold" rating in a research note on Wednesday. Finally, Piper Sandler dropped their price objective on AtriCure from $90.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.86.
About AtriCure
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AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.
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