Granite Investment Partners LLC Cuts Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Granite Investment Partners LLC lowered its stake in AtriCure, Inc. (NASDAQ:ATRCGet Rating) by 1.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 401,244 shares of the medical device company’s stock after selling 5,947 shares during the period. Granite Investment Partners LLC owned 0.86% of AtriCure worth $17,807,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. boosted its stake in AtriCure by 17.5% during the 1st quarter. Invesco Ltd. now owns 2,865,409 shares of the medical device company’s stock valued at $188,171,000 after purchasing an additional 427,792 shares during the last quarter. First Light Asset Management LLC boosted its stake in AtriCure by 35.8% during the 1st quarter. First Light Asset Management LLC now owns 1,364,812 shares of the medical device company’s stock valued at $89,627,000 after purchasing an additional 359,823 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in AtriCure by 20.6% during the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 602,781 shares of the medical device company’s stock valued at $26,752,000 after purchasing an additional 102,977 shares during the last quarter. Bellevue Group AG boosted its stake in AtriCure by 20.1% during the 1st quarter. Bellevue Group AG now owns 598,605 shares of the medical device company’s stock valued at $39,310,000 after purchasing an additional 100,049 shares during the last quarter. Finally, Emerald Advisers LLC boosted its stake in AtriCure by 20.6% during the 4th quarter. Emerald Advisers LLC now owns 517,117 shares of the medical device company’s stock valued at $22,950,000 after purchasing an additional 88,486 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

AtriCure Stock Performance

Shares of ATRC stock traded up $0.29 during trading hours on Friday, reaching $47.36. 64,021 shares of the company’s stock were exchanged, compared to its average volume of 323,033. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.03 and a current ratio of 3.82. AtriCure, Inc. has a fifty-two week low of $32.51 and a fifty-two week high of $52.96. The stock’s 50 day moving average is $43.57 and its 200-day moving average is $43.07.

AtriCure (NASDAQ:ATRCGet Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The medical device company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.11. AtriCure had a negative net margin of 10.81% and a negative return on equity of 9.18%. The business had revenue of $93.49 million during the quarter, compared to the consensus estimate of $87.53 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The company’s revenue was up 25.4% compared to the same quarter last year. On average, analysts expect that AtriCure, Inc. will post -1.11 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on ATRC shares. BTIG Research cut their target price on AtriCure from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Stifel Nicolaus raised their price target on AtriCure from $48.00 to $50.00 in a research note on Wednesday, May 3rd. Canaccord Genuity Group dropped their price target on AtriCure from $81.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. StockNews.com assumed coverage on AtriCure in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Needham & Company LLC raised their price target on AtriCure from $58.00 to $60.00 in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.83.

About AtriCure

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AtriCure, Inc engages in the development, manufacture, and sale of surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration.

See Also

Institutional Ownership by Quarter for AtriCure (NASDAQ:ATRC)

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