PDT Partners LLC Invests $665,000 in AtriCure, Inc. (NASDAQ:ATRC)

PDT Partners LLC bought a new stake in AtriCure, Inc. (NASDAQ:ATRC - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,701 shares of the medical device company's stock, valued at approximately $665,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Arcadia Investment Management Corp MI acquired a new position in AtriCure in the third quarter valued at $28,000. Comerica Bank raised its stake in AtriCure by 70.5% during the 1st 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. Quest Partners LLC lifted its position in AtriCure by 38.3% during the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company's stock worth $134,000 after acquiring an additional 1,626 shares during the period. nVerses Capital LLC increased its holdings in shares of AtriCure by 733.3% in the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company's stock valued at $140,000 after purchasing an additional 4,400 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its holdings in shares of AtriCure by 32.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company's stock valued at $222,000 after purchasing an additional 2,368 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

Wall Street Analysts Forecast Growth

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

AtriCure Stock Performance

Shares of ATRC stock traded down $0.94 on Tuesday, hitting $36.12. The stock had a trading volume of 484,789 shares, compared to its average volume of 459,121. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $39.04. 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 stock's 50 day moving average is $31.87 and its 200-day moving average is $26.52.

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. The company had revenue of $115.91 million for 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%. AtriCure's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. On average, sell-side 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.