Handelsbanken Fonder AB Acquires 3,000 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Handelsbanken Fonder AB lifted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 20.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,700 shares of the medical device company’s stock after buying an additional 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in AtriCure were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew 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 worth $170,100,000 after purchasing an additional 76,146 shares during the period. Champlain Investment Partners LLC increased its position 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 buying an additional 575,605 shares in the last quarter. First Light Asset Management LLC raised its stake in AtriCure by 42.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock worth $44,736,000 after buying an additional 581,843 shares during the period. Hood River Capital Management LLC bought a new position in AtriCure in the second quarter worth approximately $40,422,000. Finally, Wellington Management Group LLP grew its stake in AtriCure by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock valued at $47,448,000 after acquiring an additional 95,824 shares during the period. Institutional investors own 99.11% of the company’s stock.

Insider Buying and Selling at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the sale, the director now owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 $27.84 on Monday. 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 $1.32 billion, a PE ratio of -34.80 and a beta of 1.44. The business has a 50 day moving average of $25.94 and a 200-day moving average of $24.21. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $43.00.

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

Wall Street Analysts Forecast Growth

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