BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 2,898 Shares of AtriCure, Inc. (NASDAQ:ATRC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 380,720 shares of the medical device company’s stock after purchasing an additional 2,898 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in AtriCure were worth $8,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank boosted its stake in shares of AtriCure by 70.5% during the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after acquiring an additional 1,043 shares during the period. Quest Partners LLC acquired a new stake in AtriCure during the 4th quarter worth approximately $103,000. Virtu Financial LLC acquired a new stake in AtriCure during the 4th quarter worth approximately $213,000. Victory Capital Management Inc. lifted its holdings in AtriCure by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Aigen Investment Management LP lifted its holdings in AtriCure by 24.0% during the 4th quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock worth $255,000 after purchasing an additional 1,383 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Needham & Company LLC dropped their price target on AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler dropped their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. BTIG Research dropped their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, StockNews.com cut AtriCure from a “hold” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.44.

Insider Transactions at AtriCure

In other news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the transaction, the director now owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by insiders.

AtriCure Price Performance

AtriCure stock opened at $26.21 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 4.13. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $47.13. The stock has a market capitalization of $1.25 billion, a P/E ratio of -32.76 and a beta of 1.44. The stock has a fifty day moving average of $23.18 and a 200-day moving average of $25.50.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The company had revenue of $116.27 million during the quarter, compared to analysts’ expectations of $116.24 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. AtriCure’s revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts expect that AtriCure, Inc. will post -0.77 earnings per share for the current fiscal year.

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.