Arrowstreet Capital Limited Partnership Buys New Shares in AtriCure, Inc. (NASDAQ:ATRC)

Arrowstreet Capital Limited Partnership purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 26,693 shares of the medical device company's stock, valued at approximately $816,000. Arrowstreet Capital Limited Partnership owned about 0.05% of AtriCure at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of AtriCure by 1.8% during the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company's stock worth $414,000 after buying an additional 265 shares in the last quarter. Perkins Capital Management Inc. boosted its holdings in AtriCure by 1.3% in the 4th quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company's stock valued at $927,000 after purchasing an additional 400 shares during the period. Truist Financial Corp grew its position in shares of AtriCure by 2.6% during the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company's stock worth $480,000 after purchasing an additional 403 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of AtriCure by 0.9% during the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company's stock worth $1,569,000 after purchasing an additional 484 shares during the period. Finally, LPL Financial LLC raised its position in shares of AtriCure by 5.4% in the fourth quarter. LPL Financial LLC now owns 11,465 shares of the medical device company's stock valued at $350,000 after buying an additional 584 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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Insider Activity

In other AtriCure news, Director Karen Prange sold 6,100 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were 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 approximately $679,603.36. This represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ATRC. Needham & Company LLC reissued a "buy" rating and set a $51.00 target price on shares of AtriCure in a report on Thursday, March 27th. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price target on shares of AtriCure in a report on Monday, February 10th. Piper Sandler lifted their price objective 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. Canaccord Genuity Group cut their target price on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, BTIG Research reissued a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, AtriCure currently has a consensus rating of "Moderate Buy" and an average target price of $49.44.

AtriCure Trading Down 0.8 %

Shares of NASDAQ ATRC traded down $0.26 during trading on Tuesday, reaching $32.36. The company had a trading volume of 398,359 shares, compared to its average volume of 664,988. AtriCure, Inc. has a 12 month low of $18.94 and a 12 month high of $43.11. 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 stock has a market cap of $1.58 billion, a P/E ratio of -34.06 and a beta of 1.65. The company's fifty day moving average price is $35.84 and its 200-day moving average price is $34.34.

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.