Wasatch Advisors LP Reduces Position in AtriCure, Inc. (NASDAQ:ATRC)

Wasatch Advisors LP reduced its position in AtriCure, Inc. (NASDAQ:ATRC) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 607,364 shares of the medical device company’s stock after selling 161,888 shares during the quarter. Wasatch Advisors LP’s holdings in AtriCure were worth $18,561,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of AtriCure by 4.9% during the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after buying an additional 63,002 shares during the last quarter. Geode Capital Management LLC boosted its holdings in AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after acquiring an additional 32,676 shares during the period. Silver Oak Securities Incorporated bought a new position in AtriCure in the 4th quarter valued at $220,000. JPMorgan Chase & Co. increased its stake in AtriCure by 43.1% in the fourth quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company’s stock worth $11,160,000 after purchasing an additional 110,039 shares during the period. Finally, Calamos Advisors LLC lifted its position in shares of AtriCure by 27.9% during the fourth quarter. Calamos Advisors LLC now owns 110,671 shares of the medical device company’s stock worth $3,382,000 after purchasing an additional 24,147 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the sale, the director now owns 17,828 shares of the company’s stock, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

ATRC has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a report on Monday, February 10th. Stifel Nicolaus upped their target price on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Piper Sandler lifted their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Oppenheimer boosted their price target on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Canaccord Genuity Group reduced their price objective on AtriCure from $66.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

AtriCure Stock Performance

Shares of NASDAQ:ATRC opened at $32.08 on Thursday. The firm has a 50 day moving average of $35.49 and a 200 day moving average of $34.31. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -33.77 and a beta of 1.65. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $43.11.

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.