AtriCure, Inc. (NASDAQ:ATRC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 21.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 255,144 shares of the medical device company’s stock after selling 70,003 shares during the period. JPMorgan Chase & Co.’s holdings in AtriCure were worth $7,154,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Champlain Investment Partners LLC boosted its holdings in AtriCure by 4.3% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock valued at $78,253,000 after acquiring an additional 115,813 shares during the period. First Light Asset Management LLC lifted its position in shares of AtriCure by 42.1% during the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock worth $44,736,000 after purchasing an additional 581,843 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of AtriCure during the second quarter worth about $40,422,000. Wellington Management Group LLP boosted its stake in shares of AtriCure by 0.4% in the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after purchasing an additional 6,045 shares during the period. Finally, State Street Corp grew its holdings in shares of AtriCure by 4.9% in the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after purchasing an additional 63,002 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Stock Up 0.9 %

Shares of NASDAQ ATRC opened at $34.69 on Wednesday. The business has a 50-day moving average of $33.82 and a two-hundred day moving average of $28.72. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -41.80 and a beta of 1.42. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $39.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59.

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

Analysts Set New Price Targets

A number of research firms have issued reports on ATRC. Canaccord Genuity Group increased their target price on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of AtriCure in a research note on Monday. Oppenheimer boosted their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $40.00 price objective on shares of AtriCure in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.00.

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.