Bridgewater Associates LP Reduces Position in AtriCure, Inc. (NASDAQ:ATRC)

Bridgewater Associates LP decreased its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 51.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,685 shares of the medical device company’s stock after selling 20,632 shares during the quarter. Bridgewater Associates LP’s holdings in AtriCure were worth $552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ATRC. Arcadia Investment Management Corp MI bought a new stake in shares of AtriCure in the third quarter worth approximately $28,000. Comerica Bank grew its position in AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after purchasing an additional 1,043 shares during the period. nVerses Capital LLC raised its stake in AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after buying an additional 4,400 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of AtriCure by 38.3% during the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after buying an additional 1,626 shares during the period. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of AtriCure by 32.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after buying an additional 2,368 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATRC. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. UBS Group raised their price objective on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their price target on shares of AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC raised their price objective on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

AtriCure Stock Up 2.5 %

Shares of ATRC stock opened at $37.06 on Tuesday. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $39.04. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $31.87 and its two-hundred day simple moving average is $26.52. The stock has a market cap of $1.81 billion, a P/E ratio of -44.65 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The company had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. AtriCure’s quarterly revenue was up 17.9% on a year-over-year basis. Analysts predict that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

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.