The Manufacturers Life Insurance Company Sells 7,018 Shares of AtriCure, Inc. (NASDAQ:ATRC)

The Manufacturers Life Insurance Company cut its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 28.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,901 shares of the medical device company’s stock after selling 7,018 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AtriCure were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Comerica Bank grew its position in shares of AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after buying an additional 1,043 shares during the last quarter. Panagora Asset Management Inc. increased its position in AtriCure by 8.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 309,547 shares of the medical device company’s stock valued at $7,048,000 after purchasing an additional 23,436 shares during the period. HighMark Wealth Management LLC raised its holdings in AtriCure by 664.1% in the 2nd quarter. HighMark Wealth Management LLC now owns 69,725 shares of the medical device company’s stock worth $1,588,000 after purchasing an additional 60,600 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of AtriCure by 0.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 380,720 shares of the medical device company’s stock worth $8,669,000 after purchasing an additional 2,898 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of AtriCure by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 72,936 shares of the medical device company’s stock valued at $1,661,000 after purchasing an additional 2,577 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Stock Down 3.4 %

NASDAQ:ATRC opened at $31.67 on Friday. 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 firm has a market cap of $1.54 billion, a P/E ratio of -38.16 and a beta of 1.40. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $39.04. The firm has a 50-day simple moving average of $32.93 and a two-hundred day simple moving average of $27.21.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Oppenheimer raised their price objective on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC increased their price objective on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus price target of $42.00.

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.