KBC Group NV Boosts Holdings in AtriCure, Inc. (NASDAQ:ATRC)

KBC Group NV boosted its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 65.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,360 shares of the medical device company’s stock after acquiring an additional 932 shares during the period. KBC Group NV’s holdings in AtriCure were worth $72,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ATRC. Arcadia Investment Management Corp MI purchased a new stake in AtriCure during the 3rd quarter worth about $28,000. nVerses Capital LLC boosted its stake in shares of AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after purchasing an additional 4,400 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of AtriCure during the third quarter worth about $230,000. QRG Capital Management Inc. acquired a new position in shares of AtriCure in the third quarter valued at approximately $276,000. Finally, Creative Planning purchased a new position in shares of AtriCure during the third quarter valued at approximately $321,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

ATRC has been the subject of several recent analyst reports. Needham & Company LLC lifted their target price on shares of AtriCure from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of AtriCure in a research report on Tuesday, December 17th. UBS Group upped their target price on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Monday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.22.

AtriCure Stock Performance

NASDAQ ATRC opened at $42.01 on Tuesday. 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, Inc. has a 1-year low of $18.94 and a 1-year high of $43.11. The firm has a market capitalization of $2.05 billion, a P/E ratio of -50.61 and a beta of 1.46. The business’s 50-day simple moving average is $35.19 and its 200-day simple moving average is $30.83.

AtriCure 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.