Y Intercept Hong Kong Ltd Buys New Position in AtriCure, Inc. (NASDAQ:ATRC)

Y Intercept Hong Kong Ltd bought a new stake in shares of AtriCure, Inc. (NASDAQ:ATRC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 21,884 shares of the medical device company’s stock, valued at approximately $614,000.

Several other large investors have also recently added to or reduced their stakes in ATRC. Arcadia Investment Management Corp MI acquired a new position in AtriCure in the 3rd quarter valued at approximately $28,000. Comerica Bank raised its holdings in AtriCure by 70.5% in 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 in the last quarter. Quest Partners LLC raised its holdings in AtriCure by 38.3% in the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after acquiring an additional 1,626 shares in the last quarter. nVerses Capital LLC raised its holdings in AtriCure by 733.3% in the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in AtriCure by 32.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after acquiring an additional 2,368 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC increased their target price on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Oppenheimer increased their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their target price on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

AtriCure Trading Down 3.4 %

ATRC stock opened at $31.67 on Friday. The business has a fifty day moving average price of $32.93 and a 200 day moving average price of $27.21. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $39.04. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -38.16 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The firm had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same period last year, the firm posted ($0.20) EPS. The business’s revenue was up 17.9% on a year-over-year basis. Analysts expect that AtriCure, Inc. will post -0.72 EPS for the current fiscal 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.