Kennedy Capital Management LLC Boosts Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Kennedy Capital Management LLC increased its position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 752,580 shares of the medical device company's stock after purchasing an additional 172,648 shares during the period. AtriCure accounts for about 0.5% of Kennedy Capital Management LLC's holdings, making the stock its 24th biggest holding. Kennedy Capital Management LLC owned approximately 1.54% of AtriCure worth $22,999,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of AtriCure by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company's stock worth $43,291,000 after purchasing an additional 6,045 shares during the period. State Street Corp boosted its position in shares of AtriCure by 4.9% during the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company's stock worth $37,710,000 after buying an additional 63,002 shares during the period. Geode Capital Management LLC grew its stake in shares of AtriCure by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company's stock valued at $32,326,000 after buying an additional 32,676 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AtriCure by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 399,428 shares of the medical device company's stock valued at $12,207,000 after buying an additional 4,844 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in AtriCure by 43.1% during the 4th quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company's stock worth $11,160,000 after acquiring an additional 110,039 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at AtriCure

In other news, Director Karen Prange sold 6,100 shares of AtriCure stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now directly owns 17,828 shares of the company's stock, valued at $679,603.36. The trade was a 25.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.20% of the stock is owned by corporate insiders.

AtriCure Stock Down 1.2 %

Shares of NASDAQ:ATRC traded down $0.40 during trading on Tuesday, hitting $32.22. 204,408 shares of the company were exchanged, compared to its average volume of 664,310. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The firm's 50 day moving average price is $35.84 and its 200-day moving average price is $34.34. The stock has a market capitalization of $1.57 billion, a P/E ratio of -33.92 and a beta of 1.65. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $43.11.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ATRC shares. Canaccord Genuity Group cut their price target on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Oppenheimer upped their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Piper Sandler raised their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating and issued a $51.00 price objective on shares of AtriCure in a research note on Thursday, March 27th. Finally, JMP Securities reissued a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $49.44.

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.