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

Wasatch Advisors LP cut its stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 769,252 shares of the medical device company's stock after selling 20,562 shares during the quarter. Wasatch Advisors LP owned about 1.58% of AtriCure worth $21,570,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ATRC. PDT Partners LLC purchased a new stake in shares of AtriCure during the third quarter valued at about $665,000. Captrust Financial Advisors purchased a new position in AtriCure in the third quarter worth $230,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of AtriCure by 38.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,053 shares of the medical device company's stock worth $394,000 after purchasing an additional 3,880 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of AtriCure during the 3rd quarter valued at $1,991,000. Finally, Millrace Asset Group Inc. boosted its position in shares of AtriCure by 2.4% in the 3rd quarter. Millrace Asset Group Inc. now owns 71,708 shares of the medical device company's stock worth $2,011,000 after purchasing an additional 1,660 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

AtriCure Price Performance

Shares of NASDAQ:ATRC traded down $0.01 during trading on Friday, reaching $36.16. 333,227 shares of the company's stock traded hands, compared to its average volume of 496,275. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $39.04. The company has a 50-day simple moving average of $31.71 and a 200-day simple moving average of $26.42. The firm has a market cap of $1.76 billion, a PE ratio of -43.57 and a beta of 1.41.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.02. The firm had revenue of $115.91 million for the quarter, compared to analysts' expectations of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The firm's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.20) EPS. As a group, analysts predict that AtriCure, Inc. will post -0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Oppenheimer raised their price target on AtriCure from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of AtriCure from $30.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. UBS Group raised their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. StockNews.com raised AtriCure from a "sell" rating to a "hold" rating in a research report on Saturday, September 14th. Finally, Needham & Company LLC raised their target price 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

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.