Intech Investment Management LLC Buys New Position in AtriCure, Inc. (NASDAQ:ATRC)

Intech Investment Management LLC acquired a new stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,214 shares of the medical device company's stock, valued at approximately $427,000.

Several other large investors also recently modified their holdings of ATRC. Arizona State Retirement System grew its stake in shares of AtriCure by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company's stock worth $308,000 after acquiring an additional 517 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of AtriCure by 4.0% in the 2nd quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company's stock worth $488,000 after buying an additional 831 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of AtriCure during the 3rd quarter valued at $28,000. Comerica Bank raised its stake in shares of AtriCure by 70.5% during 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 increased its position in AtriCure by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,919 shares of the medical device company's stock valued at $567,000 after purchasing an additional 1,429 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ATRC has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on AtriCure from $30.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Needham & Company LLC upped their target price on AtriCure from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on shares of AtriCure from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. UBS Group increased their target price on shares of AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded AtriCure from a "sell" rating to a "hold" rating in a research report on Saturday, September 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $41.00.

AtriCure Trading Down 2.5 %

Shares of AtriCure stock traded down $0.94 during trading on Tuesday, hitting $36.12. 484,789 shares of the stock were exchanged, compared to its average volume of 459,121. 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 firm's 50-day moving average price is $31.87 and its 200 day moving average price is $26.52. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $39.04.

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

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.