BlackRock Inc. Acquires 314,841 Shares of AtriCure Inc. (NASDAQ:ATRC)

BlackRock Inc. lifted its stake in AtriCure Inc. (NASDAQ:ATRC) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,075,083 shares of the medical device company’s stock after purchasing an additional 314,841 shares during the period. BlackRock Inc. owned approximately 7.98% of AtriCure worth $94,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Federated Investors Inc. PA acquired a new stake in shares of AtriCure in the third quarter valued at about $34,000. Wells Fargo & Company MN lifted its stake in shares of AtriCure by 3.7% in the third quarter. Wells Fargo & Company MN now owns 62,164 shares of the medical device company’s stock valued at $2,177,000 after purchasing an additional 2,213 shares during the period. Teachers Advisors LLC lifted its stake in shares of AtriCure by 2.8% in the third quarter. Teachers Advisors LLC now owns 84,847 shares of the medical device company’s stock valued at $2,972,000 after purchasing an additional 2,333 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of AtriCure by 121.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,331 shares of the medical device company’s stock valued at $133,000 after purchasing an additional 2,373 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of AtriCure by 2.0% in the third quarter. TIAA CREF Investment Management LLC now owns 135,792 shares of the medical device company’s stock valued at $4,757,000 after purchasing an additional 2,699 shares during the period. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of AtriCure from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Thursday, January 17th. BTIG Research restated a “hold” rating on shares of AtriCure in a report on Tuesday, March 5th. BidaskClub downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. assumed coverage on shares of AtriCure in a report on Friday, April 12th. They set an “overweight” rating and a $37.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $39.00 target price on shares of AtriCure in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. AtriCure presently has a consensus rating of “Buy” and an average price target of $35.71.

In other news, SVP Justin J. Noznesky sold 12,569 shares of AtriCure stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $27.64, for a total transaction of $347,407.16. Following the completion of the sale, the senior vice president now directly owns 104,068 shares in the company, valued at $2,876,439.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.70% of the company’s stock.

NASDAQ:ATRC traded down $0.09 during mid-day trading on Friday, hitting $27.14. 251,867 shares of the company’s stock traded hands, compared to its average volume of 324,737. The company has a market capitalization of $1.05 billion, a P/E ratio of -28.87 and a beta of 0.25. AtriCure Inc. has a 1 year low of $19.76 and a 1 year high of $36.49. The company has a current ratio of 4.34, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Thursday, February 28th. The medical device company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $52.89 million for the quarter, compared to analysts’ expectations of $51.62 million. AtriCure had a negative return on equity of 17.61% and a negative net margin of 10.48%. On average, equities research analysts predict that AtriCure Inc. will post -0.74 earnings per share for the current year.

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AtriCure Profile

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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Institutional Ownership by Quarter for AtriCure (NASDAQ:ATRC)

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