AQR Capital Management LLC Acquires 16,251 Shares of AtriCure, Inc. (NASDAQ:ATRC)

AQR Capital Management LLC boosted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 38.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,738 shares of the medical device company’s stock after buying an additional 16,251 shares during the period. AQR Capital Management LLC’s holdings in AtriCure were worth $1,337,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ATRC. Comerica Bank increased its holdings in shares of AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after acquiring an additional 1,043 shares in the last quarter. Quest Partners LLC raised its position in AtriCure by 38.3% in the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after buying an additional 1,626 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of AtriCure in the fourth quarter worth approximately $213,000. Mount Yale Investment Advisors LLC bought a new position in AtriCure during the first quarter valued at approximately $224,000. Finally, ProShare Advisors LLC grew its position in AtriCure by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after purchasing an additional 659 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Transactions at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the sale, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

AtriCure Stock Performance

ATRC stock opened at $27.05 on Friday. The business’s fifty day simple moving average is $25.82 and its two-hundred day simple moving average is $24.25. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -33.81 and a beta of 1.44. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.00.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The business had revenue of $116.27 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. Analysts predict that AtriCure, Inc. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ATRC. Needham & Company LLC cut their price objective on AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a 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. Piper Sandler decreased 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. JPMorgan Chase & Co. lowered their price objective on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, BTIG Research cut their target price on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock 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 MarketBeat.com, AtriCure 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.