Connor Clark & Lunn Investment Management Ltd. Buys 52,533 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 39.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,819 shares of the medical device company's stock after buying an additional 52,533 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.38% of AtriCure worth $5,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC bought a new position in AtriCure in the 2nd quarter worth $40,422,000. First Light Asset Management LLC lifted its holdings in shares of AtriCure by 42.1% during the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company's stock worth $44,736,000 after buying an additional 581,843 shares during the last quarter. Millennium Management LLC boosted its position in shares of AtriCure by 132.5% in the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company's stock valued at $21,694,000 after acquiring an additional 543,023 shares during the period. Assenagon Asset Management S.A. increased its position in AtriCure by 151.6% during the third quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company's stock worth $6,425,000 after acquiring an additional 138,046 shares during the period. Finally, Kennedy Capital Management LLC raised its stake in AtriCure by 115.5% during the 1st quarter. Kennedy Capital Management LLC now owns 227,193 shares of the medical device company's stock valued at $6,911,000 after purchasing an additional 121,752 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Price Performance

Shares of ATRC traded up $0.05 during trading hours on Friday, hitting $35.74. The stock had a trading volume of 459,821 shares, compared to its average volume of 741,642. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -43.05 and a beta of 1.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The company's fifty day moving average is $30.93 and its two-hundred day moving average is $25.90. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $42.99.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its 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 company had revenue of $115.91 million during 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%. AtriCure's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) earnings per share. On average, analysts anticipate that AtriCure, Inc. will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ATRC. Piper Sandler dropped their price objective on shares of AtriCure from $65.00 to $40.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Oppenheimer upped their price target on AtriCure from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on AtriCure from $49.00 to $53.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Stifel Nicolaus reduced their target price on AtriCure from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Finally, BTIG Research lowered their price target on shares of AtriCure from $58.00 to $53.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. One 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, the company has a consensus rating of "Moderate Buy" and an average target price of $43.11.

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.