AtriCure, Inc. (NASDAQ:ATRC) Shares Sold by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C cut its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 17.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 17,068 shares of the medical device company’s stock after selling 3,672 shares during the period. Deerfield Management Company L.P. Series C’s holdings in AtriCure were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank raised its position in 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 buying an additional 1,043 shares during the last quarter. Quest Partners LLC increased its stake in shares of AtriCure by 38.3% during the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after acquiring an additional 1,626 shares during the period. Virtu Financial LLC purchased a new position in AtriCure during the fourth quarter worth about $213,000. Mount Yale Investment Advisors LLC acquired a new stake in AtriCure in the first quarter valued at about $224,000. Finally, ProShare Advisors LLC lifted its position in AtriCure by 8.5% in the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after purchasing an additional 659 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Price Performance

AtriCure stock opened at $28.18 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of -35.23 and a beta of 1.43. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $44.64. The firm’s 50-day simple moving average is $24.90 and its 200 day simple moving average is $24.58. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16.

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

Analysts Set New Price Targets

ATRC has been the subject of a number of analyst reports. Stifel Nicolaus cut their target price on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. BTIG Research decreased their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler lowered their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.44.

Insider Buying and Selling 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 value of $84,245.00. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by insiders.

AtriCure 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.