AtriCure, Inc. $ATRC Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 20.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 511,213 shares of the medical device company’s stock after purchasing an additional 86,532 shares during the period. Massachusetts Financial Services Co. MA’s holdings in AtriCure were worth $20,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ATRC. Wellington Management Group LLP lifted its stake in shares of AtriCure by 8.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock valued at $151,296,000 after purchasing an additional 322,818 shares during the last quarter. Kennedy Capital Management LLC lifted its stake in AtriCure by 36.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock worth $29,501,000 after acquiring an additional 222,529 shares in the last quarter. Oberweis Asset Management Inc. acquired a new position in AtriCure during the 3rd quarter worth about $5,411,000. First Trust Advisors LP acquired a new position in AtriCure during the 2nd quarter worth about $4,353,000. Finally, Bank of America Corp DE lifted its stake in AtriCure by 15.7% during the 2nd quarter. Bank of America Corp DE now owns 710,173 shares of the medical device company’s stock worth $23,272,000 after acquiring an additional 96,313 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Price Performance

Shares of NASDAQ ATRC opened at $29.37 on Thursday. The stock’s 50-day moving average is $30.70 and its two-hundred day moving average is $34.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.96 and a quick ratio of 2.99. AtriCure, Inc. has a 1-year low of $27.26 and a 1-year high of $43.18. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -122.38 and a beta of 1.43.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The company had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.50 million. During the same quarter in the prior year, the business earned ($0.33) EPS. AtriCure’s revenue was up 13.1% on a year-over-year basis. Analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, insider Vinayak Doraiswamy sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the sale, the insider owned 96,875 shares in the company, valued at $2,889,781.25. This represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ATRC. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lowered AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research note on Wednesday, February 11th. Citizens Jmp decreased their target price on AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a research note on Wednesday, February 18th. Freedom Capital raised AtriCure to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, Wall Street Zen raised AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Sunday, April 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.43.

AtriCure Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.