The Manufacturers Life Insurance Company Buys 1,429 Shares of AtriCure, Inc. (NASDAQ:ATRC)

The Manufacturers Life Insurance Company grew its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,919 shares of the medical device company’s stock after acquiring an additional 1,429 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of AtriCure worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ATRC. Comerica Bank grew its holdings in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after acquiring an additional 1,043 shares during the period. Quest Partners LLC raised its position in AtriCure by 38.3% in the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after purchasing an additional 1,626 shares during the period. Virtu Financial LLC purchased a new position in AtriCure during the fourth quarter worth about $213,000. Mount Yale Investment Advisors LLC lifted its stake in AtriCure by 32.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after purchasing an additional 2,368 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in AtriCure by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after acquiring an additional 659 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

In related news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now directly owns 8,970 shares in the company, valued at $215,907.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

AtriCure Trading Up 3.7 %

ATRC stock opened at $28.61 on Wednesday. The business has a fifty day simple moving average of $26.20 and a 200-day simple moving average of $24.14. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -35.76 and a beta of 1.44. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $43.00. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The firm had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. During the same period in the previous year, the company posted ($0.12) EPS. AtriCure’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities research analysts expect that AtriCure, Inc. will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ATRC shares. Stifel Nicolaus decreased their price target on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC reduced their target price on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Piper Sandler decreased their target price on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their target price on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, BTIG Research reduced their target price on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.44.

AtriCure Company 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.