AtriCure, Inc. (NASDAQ:ATRC) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 187.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,669 shares of the medical device company’s stock after acquiring an additional 72,200 shares during the period. Canada Pension Plan Investment Board’s holdings in AtriCure were worth $2,520,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in AtriCure by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after buying an additional 76,146 shares in the last quarter. Champlain Investment Partners LLC increased its stake in AtriCure by 27.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock valued at $81,556,000 after purchasing an additional 575,605 shares in the last quarter. First Light Asset Management LLC raised its holdings in AtriCure by 2.5% during the first quarter. First Light Asset Management LLC now owns 1,382,860 shares of the medical device company’s stock worth $42,067,000 after purchasing an additional 33,417 shares during the last quarter. Wellington Management Group LLP boosted its position in AtriCure by 7.8% during the fourth quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock worth $47,448,000 after purchasing an additional 95,824 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in AtriCure by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,001,161 shares of the medical device company’s stock valued at $35,734,000 after purchasing an additional 9,176 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Stock Performance

NASDAQ ATRC opened at $28.42 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $44.64. The firm has a market capitalization of $1.35 billion, a P/E ratio of -35.53 and a beta of 1.43. The business’s 50-day simple moving average is $24.90 and its 200-day simple moving average is $24.58.

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

Insider Buying and Selling

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. BTIG Research dropped their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler lowered their target price on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock 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 research report on Wednesday, July 31st. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, JPMorgan Chase & Co. dropped their price objective on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.44.

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.