Millennium Management LLC Has $21.69 Million Stake in AtriCure, Inc. (NASDAQ:ATRC)

Millennium Management LLC increased its position in AtriCure, Inc. (NASDAQ:ATRC) by 132.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 952,765 shares of the medical device company’s stock after purchasing an additional 543,023 shares during the period. Millennium Management LLC owned approximately 2.00% of AtriCure worth $21,694,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ATRC. Arizona State Retirement System lifted its stake in shares of AtriCure by 4.0% in the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock valued at $308,000 after buying an additional 517 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of 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 acquiring an additional 659 shares during the last quarter. Bank of Montreal Can lifted its position in AtriCure by 4.0% in the 2nd quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock valued at $488,000 after acquiring an additional 831 shares in the last quarter. Comerica Bank boosted its stake in AtriCure by 70.5% during the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in AtriCure by 4.7% during the 2nd quarter. Diversified Trust Co now owns 34,980 shares of the medical device company’s stock worth $796,000 after purchasing an additional 1,558 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ATRC shares. JPMorgan Chase & Co. dropped their target price on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Piper Sandler lowered their target price on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. BTIG Research dropped their price target 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. Finally, StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.44.

AtriCure Price Performance

ATRC opened at $27.63 on Friday. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $43.00. The firm has a 50-day moving average of $25.38 and a 200 day moving average of $24.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. The firm has a market cap of $1.31 billion, a P/E ratio of -34.54 and a beta of 1.44.

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

Insider Buying and Selling at AtriCure

In other AtriCure 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 sale, the director now directly owns 8,970 shares in the company, valued at $215,907.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by corporate 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.