Kennedy Capital Management LLC Has $6.91 Million Stock Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Kennedy Capital Management LLC lifted its stake in AtriCure, Inc. (NASDAQ:ATRC) by 115.5% in the first quarter, HoldingsChannel reports. The firm owned 227,193 shares of the medical device company’s stock after purchasing an additional 121,752 shares during the period. Kennedy Capital Management LLC’s holdings in AtriCure were worth $6,911,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of AtriCure by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,689,883 shares of the medical device company’s stock worth $205,417,000 after acquiring an additional 43,431 shares in the last quarter. HighMark Wealth Management LLC boosted its stake in AtriCure by 223.0% in the 4th quarter. HighMark Wealth Management LLC now owns 9,125 shares of the medical device company’s stock worth $326,000 after purchasing an additional 6,300 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in AtriCure by 2.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company’s stock worth $758,000 after purchasing an additional 484 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of AtriCure by 7.7% in the fourth quarter. WCM Investment Management LLC now owns 221,416 shares of the medical device company’s stock valued at $8,133,000 after purchasing an additional 15,820 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of AtriCure by 14.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,295 shares of the medical device company’s stock valued at $439,000 after purchasing an additional 1,575 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, insider Salvatore Privitera bought 5,000 shares of AtriCure stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $22.25 per share, for a total transaction of $111,250.00. Following the completion of the purchase, the insider now owns 103,290 shares in the company, valued at $2,298,202.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

AtriCure Stock Performance

Shares of NASDAQ ATRC traded down $1.20 during trading hours on Wednesday, hitting $20.80. 361,034 shares of the stock were exchanged, compared to its average volume of 772,652. The firm has a market capitalization of $989.87 million, a P/E ratio of -27.50 and a beta of 1.44. AtriCure, Inc. has a one year low of $18.94 and a one year high of $57.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.83. The company’s 50 day moving average is $22.66 and its 200 day moving average is $27.06.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.17). AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.85%. The business had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. During the same quarter last year, the company posted ($0.12) earnings per share. AtriCure’s quarterly revenue was up 15.2% on a year-over-year basis. On average, research analysts expect that AtriCure, Inc. will post -0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC dropped their price target on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday. Canaccord Genuity Group lowered their target price on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Oppenheimer raised shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research report on Tuesday, April 23rd. Piper Sandler lowered their price objective on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus price target of $43.63.

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.