Norges Bank Invests $3.42 Million in AtriCure, Inc. (NASDAQ:ATRC)

Norges Bank purchased a new position in shares of AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 111,947 shares of the medical device company's stock, valued at approximately $3,421,000. Norges Bank owned approximately 0.23% of AtriCure at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in AtriCure in the 4th quarter worth approximately $60,000. Venturi Wealth Management LLC increased its stake in shares of AtriCure by 1,337.6% in the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after acquiring an additional 2,100 shares during the period. KBC Group NV raised its holdings in shares of AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock worth $72,000 after purchasing an additional 932 shares during the last quarter. R Squared Ltd purchased a new position in shares of AtriCure during the 4th quarter valued at about $89,000. Finally, AlphaQuest LLC raised its stake in shares of AtriCure by 855.1% during the 4th quarter. AlphaQuest LLC now owns 5,062 shares of the medical device company's stock valued at $155,000 after buying an additional 4,532 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Trading Down 1.6 %

Shares of ATRC traded down $0.52 during mid-day trading on Wednesday, reaching $31.84. The stock had a trading volume of 19,936 shares, compared to its average volume of 659,889. 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 business's fifty day moving average is $35.66 and its 200 day moving average is $34.33. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $43.11. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -33.54 and a beta of 1.65.

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Analysts Set New Price Targets

Several analysts recently commented on ATRC shares. Canaccord Genuity Group dropped their target price on AtriCure from $66.00 to $52.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Piper Sandler lifted their target price on shares of AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. JMP Securities restated a "market outperform" rating and issued a $60.00 price target on shares of AtriCure in a research note on Monday, February 10th. Finally, Stifel Nicolaus boosted their price objective on AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.44.

Insider Activity

In other news, Director Karen Prange sold 6,100 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now owns 17,828 shares of the company's stock, valued at $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.20% of the company's stock.

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.