State Board of Administration of Florida Retirement System raised its position in AtriCure Inc. (NASDAQ:ATRC) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,072 shares of the medical device company’s stock after buying an additional 2,630 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.05% of AtriCure worth $599,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Virginia Retirement Systems ET AL increased its holdings in AtriCure by 4.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the medical device company’s stock valued at $534,000 after buying an additional 800 shares during the period. Quantum Capital Management boosted its stake in shares of AtriCure by 0.7% in the 1st quarter. Quantum Capital Management now owns 127,035 shares of the medical device company’s stock valued at $3,403,000 after purchasing an additional 845 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of AtriCure by 3.4% in the 1st quarter. Rhumbline Advisers now owns 48,738 shares of the medical device company’s stock valued at $1,306,000 after purchasing an additional 1,594 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of AtriCure by 39.6% in the 2nd quarter. SG Americas Securities LLC now owns 7,538 shares of the medical device company’s stock valued at $225,000 after purchasing an additional 2,139 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of AtriCure in the 1st quarter valued at approximately $82,000. 91.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the stock. ValuEngine downgraded shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 19th. BidaskClub downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. BTIG Research restated a “buy” rating and issued a $35.00 price target on shares of AtriCure in a research note on Tuesday, August 13th. Piper Jaffray Companies set a $40.00 price target on shares of AtriCure and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Northland Securities downgraded shares of AtriCure from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $36.57.
NASDAQ:ATRC traded down $1.02 during mid-day trading on Thursday, hitting $25.31. 7,306 shares of the company’s stock were exchanged, compared to its average volume of 258,426. The company has a 50 day simple moving average of $29.42 and a 200-day simple moving average of $29.56. The company has a current ratio of 3.72, a quick ratio of 3.10 and a debt-to-equity ratio of 0.15. AtriCure Inc. has a fifty-two week low of $25.74 and a fifty-two week high of $36.49. The firm has a market capitalization of $1.02 billion, a P/E ratio of -27.26 and a beta of 0.33.
AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01. AtriCure had a negative net margin of 9.46% and a negative return on equity of 13.06%. The business had revenue of $58.90 million for the quarter, compared to the consensus estimate of $57.76 million. During the same period last year, the company earned ($0.19) EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. As a group, analysts expect that AtriCure Inc. will post -0.9 earnings per share for the current year.
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.
Further Reading: Why is the price target of stocks important?
Want to see what other hedge funds are holding ATRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AtriCure Inc. (NASDAQ:ATRC).
Receive News & Ratings for AtriCure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AtriCure and related companies with MarketBeat.com's FREE daily email newsletter.