BNP Paribas Financial Markets Sells 79,020 Shares of AtriCure, Inc. (NASDAQ:ATRC)

BNP Paribas Financial Markets reduced its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 86.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,534 shares of the medical device company’s stock after selling 79,020 shares during the period. BNP Paribas Financial Markets’ holdings in AtriCure were worth $351,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI bought a new stake in AtriCure in the third quarter worth $28,000. Comerica Bank lifted its stake in AtriCure by 70.5% in the first 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 last quarter. nVerses Capital LLC lifted its stake in AtriCure by 733.3% in the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after purchasing an additional 4,400 shares during the last quarter. Quest Partners LLC lifted its stake in AtriCure by 38.3% in the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its stake in AtriCure by 32.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after purchasing an additional 2,368 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

AtriCure Price Performance

Shares of ATRC stock opened at $31.67 on Friday. The firm has a market cap of $1.54 billion, a P/E ratio of -38.16 and a beta of 1.40. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $39.04. The business’s 50 day moving average price is $32.93 and its 200-day moving average price is $27.21. 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) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company earned ($0.20) EPS. On average, equities research analysts anticipate that AtriCure, Inc. will post -0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ATRC shares. UBS Group boosted their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. JPMorgan Chase & Co. upped their price objective on shares of 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 AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Oppenheimer raised their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, AtriCure currently has an average rating of “Moderate Buy” and an average price target of $42.00.

About AtriCure

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.