AtriCure, Inc. (NASDAQ:ATRC) Stock Holdings Increased by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC raised its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 32.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,743 shares of the medical device company’s stock after buying an additional 2,368 shares during the period. Mount Yale Investment Advisors LLC’s holdings in AtriCure were worth $222,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ATRC. Comerica Bank boosted its stake in shares of AtriCure by 70.5% during the 1st 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 in the last quarter. Quest Partners LLC acquired a new position in shares of AtriCure in the 4th quarter valued at $103,000. Virtu Financial LLC purchased a new position in AtriCure in the 4th quarter worth about $213,000. ProShare Advisors LLC raised its holdings in AtriCure by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after buying an additional 659 shares during the period. Finally, Diversify Advisory Services LLC purchased a new stake in AtriCure during the first quarter valued at about $258,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Price Performance

Shares of ATRC opened at $29.50 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. The firm has a market cap of $1.40 billion, a PE ratio of -36.88 and a beta of 1.43. The firm’s 50 day moving average price is $24.75 and its 200 day moving average price is $24.52. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $44.64.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). The business had revenue of $116.27 million during the quarter, compared to analyst estimates of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. AtriCure’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS. As a group, research analysts expect that AtriCure, Inc. will post -0.77 EPS for the current fiscal year.

Insider Transactions at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the sale, the director now directly owns 8,970 shares in the company, valued at approximately $215,907.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ATRC has been the topic of a number of recent analyst reports. BTIG Research cut their price target on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC lowered their price target on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their target price on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, AtriCure has a consensus rating of “Moderate Buy” and an average target price of $42.44.

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.