AtriCure, Inc. (NASDAQ:ATRC) Short Interest Down 20.4% in January

AtriCure, Inc. (NASDAQ:ATRC) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 1,170,000 shares, a decline of 20.4% from the January 15th total of 1,470,000 shares. Based on an average trading volume of 480,400 shares, the short-interest ratio is currently 2.4 days.

Hedge Funds Weigh In On AtriCure

Large investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of AtriCure by 4.9% during the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock worth $37,710,000 after purchasing an additional 63,002 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AtriCure by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after buying an additional 32,676 shares during the last quarter. Atom Investors LP purchased a new stake in shares of AtriCure during the third quarter valued at $1,741,000. Silver Oak Securities Incorporated purchased a new stake in shares of AtriCure during the fourth quarter valued at $220,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of AtriCure by 31.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock valued at $14,038,000 after buying an additional 119,929 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Stock Performance

Shares of ATRC stock opened at $40.94 on Monday. The business’s fifty day simple moving average is $35.76 and its 200-day simple moving average is $31.50. The company has a market cap of $2.00 billion, a PE ratio of -49.33 and a beta of 1.46. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11.

Wall Street Analyst Weigh In

ATRC has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler boosted their price objective on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $51.00 price objective on shares of AtriCure in a research note on Thursday. JMP Securities reissued a “market outperform” rating and issued a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. Finally, Canaccord Genuity Group boosted their price objective on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and an average target price of $51.56.

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.