AtriCure, Inc. (NASDAQ:ATRC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 21.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,144 shares of the medical device company's stock after selling 70,003 shares during the period. JPMorgan Chase & Co. owned 0.52% of AtriCure worth $7,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of AtriCure by 3.7% in the second quarter. Rhumbline Advisers now owns 72,936 shares of the medical device company's stock worth $1,661,000 after buying an additional 2,577 shares in the last quarter. Arizona State Retirement System increased its stake in 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 during the last quarter. Quest Partners LLC raised its stake in AtriCure by 38.3% during the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company's stock valued at $134,000 after purchasing an additional 1,626 shares in the last quarter. Renaissance Technologies LLC lifted its position in AtriCure by 12.8% during the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company's stock valued at $3,910,000 after purchasing an additional 19,500 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of AtriCure by 73.5% in the 2nd quarter. Hsbc Holdings PLC now owns 102,610 shares of the medical device company's stock worth $2,380,000 after buying an additional 43,466 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATRC. UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $40.00 target price on shares of AtriCure in a research report on Tuesday, December 17th. Needham & Company LLC restated a "buy" rating and issued a $40.00 price target on shares of AtriCure in a research report on Monday. Oppenheimer boosted their price objective on shares of AtriCure from $32.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their target price on shares of AtriCure from $53.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, December 9th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, AtriCure currently has an average rating of "Moderate Buy" and an average price target of $42.00.

AtriCure Trading Up 6.6 %

Shares of NASDAQ ATRC traded up $2.28 during mid-day trading on Wednesday, reaching $36.97. The company had a trading volume of 610,504 shares, compared to its average volume of 650,123. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -44.54 and a beta of 1.42. The business's 50-day moving average is $33.82 and its 200-day moving average is $28.72. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $39.04.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The company's quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm earned ($0.20) earnings per share. Equities analysts expect that AtriCure, Inc. will post -0.72 earnings per share for the current year.

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.