Commerce Bank Boosts Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Commerce Bank lifted its position in AtriCure, Inc. (NASDAQ:ATRC) by 23.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,470 shares of the medical device company’s stock after buying an additional 2,181 shares during the quarter. Commerce Bank’s holdings in AtriCure were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new position in AtriCure during the 3rd quarter worth $28,000. Comerica Bank grew its stake in 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 purchasing an additional 1,043 shares in the last quarter. Quest Partners LLC grew its stake in AtriCure by 38.3% during the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after purchasing an additional 1,626 shares in the last quarter. nVerses Capital LLC grew its stake in 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 in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its stake in AtriCure by 32.1% during the 2nd 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. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Stock Up 1.1 %

AtriCure stock opened at $36.17 on Thursday. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $42.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The company has a market capitalization of $1.76 billion, a P/E ratio of -43.58 and a beta of 1.41. The stock has a 50-day simple moving average of $31.42 and a 200-day simple moving average of $26.20.

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

Analyst Ratings Changes

Several research analysts recently commented on ATRC shares. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Canaccord Genuity Group upped their price objective on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler lowered their price objective on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. UBS Group upped their price objective on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.11.

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.