State Street Corp Grows Stock Holdings in AtriCure, Inc. (NASDAQ:ATRC)

State Street Corp lifted its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 4.9% in the third quarter, Holdings Channel reports. The fund owned 1,344,856 shares of the medical device company’s stock after purchasing an additional 63,002 shares during the quarter. State Street Corp’s holdings in AtriCure were worth $37,710,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Arcadia Investment Management Corp MI bought a new position in AtriCure during the 3rd quarter valued at about $28,000. nVerses Capital LLC boosted its position in shares of AtriCure by 733.3% during the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after buying an additional 4,400 shares during the period. Quest Partners LLC raised its holdings in shares of AtriCure by 38.3% in the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after buying an additional 1,626 shares during the period. Captrust Financial Advisors purchased a new stake in shares of AtriCure during the third quarter valued at $230,000. Finally, Mount Yale Investment Advisors LLC increased its position in shares of AtriCure by 32.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after acquiring an additional 2,368 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ATRC. Canaccord Genuity Group raised their target price on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Oppenheimer upped their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC boosted their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $40.00 target price on shares of AtriCure in a report on Tuesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AtriCure currently has an average rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Stock Up 2.2 %

ATRC stock opened at $30.72 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. AtriCure, Inc. has a one year low of $18.94 and a one year high of $39.04. The firm’s fifty day moving average is $33.29 and its 200 day moving average is $27.47. The firm has a market cap of $1.50 billion, a PE ratio of -37.01 and a beta of 1.40.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating 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 firm had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. During the same period last year, the company posted ($0.20) EPS. AtriCure’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, research analysts forecast that AtriCure, Inc. will post -0.72 EPS for the current year.

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.