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

Royce & Associates LP boosted its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 64,785 shares of the medical device company’s stock after buying an additional 4,800 shares during the quarter. Royce & Associates LP’s holdings in AtriCure were worth $1,817,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ATRC. ProShare Advisors LLC increased its stake in shares of AtriCure by 8.5% during 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 during the last quarter. State Board of Administration of Florida Retirement System grew its holdings 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. raised its stake in AtriCure by 29.7% during the first quarter. Bessemer Group Inc. now owns 35,500 shares of the medical device company’s stock worth $1,080,000 after purchasing an additional 8,120 shares during the period. Natixis acquired a new position in shares of AtriCure in the 1st quarter valued at $9,126,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of AtriCure during the 1st quarter valued at $224,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Stock Performance

Shares of ATRC stock opened at $36.34 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The company’s fifty day moving average price is $30.24 and its two-hundred day moving average price is $25.52. The firm has a market capitalization of $1.77 billion, a P/E ratio of -43.78 and a beta of 1.41. AtriCure, Inc. has a 12 month low of $18.94 and a 12 month high of $43.00.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ATRC shares. Needham & Company LLC increased their target price on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group lifted their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler dropped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus cut their target price on shares of AtriCure from $30.00 to $26.00 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. According to MarketBeat, AtriCure has an average rating of “Moderate Buy” and an average price target of $43.11.

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.