Fmr LLC Has $27.30 Million Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

FMR LLC lowered its position in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 53.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 973,456 shares of the medical device company's stock after selling 1,138,897 shares during the period. FMR LLC owned 2.00% of AtriCure worth $27,296,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Arizona State Retirement System raised its stake in shares of AtriCure by 4.0% in the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company's stock valued at $308,000 after acquiring an additional 517 shares during the last quarter. Bank of Montreal Can raised its stake in shares of AtriCure by 4.0% in the second quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company's stock valued at $488,000 after acquiring an additional 831 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of AtriCure in the third quarter valued at approximately $28,000. Comerica Bank raised its stake in shares of AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company's stock valued at $77,000 after acquiring an additional 1,043 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of AtriCure by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 24,919 shares of the medical device company's stock valued at $567,000 after acquiring an additional 1,429 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of AtriCure from a "sell" rating to a "hold" rating in a research note on Saturday, September 14th. Needham & Company LLC raised their price target on shares of AtriCure from $34.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Oppenheimer raised their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of AtriCure from $30.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, UBS Group raised their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.00.

AtriCure Trading Up 0.1 %

ATRC traded up $0.04 during trading on Tuesday, reaching $33.98. 386,434 shares of the company's stock were exchanged, compared to its average volume of 703,424. The company's fifty day moving average price is $32.63 and its 200-day moving average price is $27.03. 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, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $39.04. The firm has a market capitalization of $1.66 billion, a PE ratio of -40.94 and a beta of 1.40.

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

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.