AtriCure, Inc. (NASDAQ:ATRC) Stake Raised by IFP Advisors Inc

IFP Advisors Inc boosted its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,524 shares of the medical device company’s stock after purchasing an additional 200 shares during the quarter. IFP Advisors Inc’s holdings in AtriCure were worth $176,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brinker Capital Investments LLC raised its position in AtriCure by 335.1% in the second quarter. Brinker Capital Investments LLC now owns 101,285 shares of the medical device company’s stock worth $8,035,000 after acquiring an additional 78,004 shares in the last quarter. Advisors Capital Management LLC raised its position in AtriCure by 22.5% in the second quarter. Advisors Capital Management LLC now owns 24,016 shares of the medical device company’s stock worth $1,905,000 after acquiring an additional 4,408 shares in the last quarter. Vanguard Group Inc. raised its position in AtriCure by 24.3% in the second quarter. Vanguard Group Inc. now owns 4,196,214 shares of the medical device company’s stock worth $332,886,000 after acquiring an additional 819,636 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in AtriCure by 184.1% during the 2nd quarter. Advisor Group Holdings Inc. now owns 30,636 shares of the medical device company’s stock worth $2,430,000 after buying an additional 19,854 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in AtriCure during the 2nd quarter worth about $522,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Several research firms have issued reports on ATRC. Needham & Company LLC boosted their price objective on AtriCure from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 4th. Oppenheimer downgraded AtriCure from an “outperform” rating to a “market perform” rating in a report on Thursday, August 5th. Canaccord Genuity boosted their price objective on AtriCure from $102.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Zacks Investment Research downgraded AtriCure from a “buy” rating to a “hold” rating in a report on Friday, November 19th. Finally, SVB Leerink upped their target price on AtriCure from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, November 4th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $91.11.

Shares of ATRC opened at $76.72 on Thursday. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 80.76 and a beta of 1.10. AtriCure, Inc. has a fifty-two week low of $42.26 and a fifty-two week high of $89.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.63 and a quick ratio of 2.91. The business’s 50-day moving average is $74.61 and its 200-day moving average is $75.89.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, November 3rd. The medical device company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $2.39. The company had revenue of $70.46 million for the quarter, compared to the consensus estimate of $68.95 million. AtriCure had a negative return on equity of 11.12% and a net margin of 17.53%. During the same quarter in the prior year, the company earned ($0.11) EPS. Equities research analysts expect that AtriCure, Inc. will post -1.21 earnings per share for the current fiscal year.

In other AtriCure news, insider Tonya Austin sold 1,227 shares of the company’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $77.18, for a total transaction of $94,699.86. Following the completion of the sale, the insider now owns 30,333 shares of the company’s stock, valued at $2,341,100.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Angela L. Wirick sold 2,604 shares of the company’s stock in a transaction that occurred on Thursday, November 4th. The stock was sold at an average price of $85.00, for a total value of $221,340.00. The disclosure for this sale can be found here. In the last three months, insiders sold 32,672 shares of company stock valued at $2,521,905. 3.60% of the stock is currently owned by company insiders.

AtriCure Profile

AtriCure, Inc engages in the development, manufacture, and sale of devices designed primarily for the surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration.

Read More: Capital Gains Distribution

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Institutional Ownership by Quarter for AtriCure (NASDAQ:ATRC)

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