First Horizon Advisors Inc. Sells 578 Shares of AtriCure, Inc. (NASDAQ:ATRC)

First Horizon Advisors Inc. trimmed its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 34.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,086 shares of the medical device company’s stock after selling 578 shares during the quarter. First Horizon Advisors Inc.’s holdings in AtriCure were worth $30,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in AtriCure by 39.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 185,819 shares of the medical device company’s stock valued at $5,210,000 after acquiring an additional 52,533 shares in the last quarter. Commerce Bank increased its holdings in shares of AtriCure by 23.5% in the third quarter. Commerce Bank now owns 11,470 shares of the medical device company’s stock valued at $322,000 after purchasing an additional 2,181 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in AtriCure in the 3rd quarter worth approximately $880,000. Royce & Associates LP lifted its holdings in AtriCure by 8.0% during the 3rd quarter. Royce & Associates LP now owns 64,785 shares of the medical device company’s stock worth $1,817,000 after buying an additional 4,800 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in AtriCure in the 3rd quarter valued at $276,000. 99.11% of the stock is owned by institutional investors.

AtriCure Trading Up 0.8 %

ATRC opened at $36.01 on Tuesday. The firm’s fifty day moving average is $30.93 and its two-hundred day moving average is $25.93. The firm has a market cap of $1.76 billion, a PE ratio of -43.40 and a beta of 1.41. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $42.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. During the same quarter last year, the business posted ($0.20) EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Equities research analysts anticipate that AtriCure, Inc. will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

ATRC has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their target price on shares of AtriCure from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler dropped their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC increased their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus lowered their target price 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.11.

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.