American International Group Inc. lifted its position in AtriCure Inc. (NASDAQ:ATRC) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,272 shares of the medical device company’s stock after acquiring an additional 2,027 shares during the quarter. American International Group Inc. owned 0.06% of AtriCure worth $743,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Federated Investors Inc. PA purchased a new position in AtriCure during the 3rd quarter valued at about $34,000. First Quadrant L P CA purchased a new position in AtriCure during the 4th quarter valued at about $132,000. PNC Financial Services Group Inc. increased its position in AtriCure by 121.2% during the 4th 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. Great West Life Assurance Co. Can increased its position in AtriCure by 104.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 4,400 shares of the medical device company’s stock valued at $130,000 after purchasing an additional 2,246 shares during the period. Finally, Ibex Investors LLC purchased a new position in AtriCure during the 3rd quarter valued at about $204,000. Hedge funds and other institutional investors own 90.22% of the company’s stock.
A number of research firms have commented on ATRC. Zacks Investment Research raised shares of AtriCure from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Thursday, January 17th. BTIG Research reaffirmed a “hold” rating on shares of AtriCure in a research report on Tuesday, March 5th. BidaskClub downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Northland Securities reaffirmed a “buy” rating on shares of AtriCure in a research report on Friday. Finally, JPMorgan Chase & Co. initiated coverage on shares of AtriCure in a research report on Friday, April 12th. They issued an “overweight” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.71.
AtriCure (NASDAQ:ATRC) last released its 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 company had revenue of $52.89 million during the quarter, compared to analyst estimates of $51.62 million. AtriCure had a negative return on equity of 17.61% and a negative net margin of 10.48%. As a group, equities research analysts forecast that AtriCure Inc. will post -0.74 EPS for the current fiscal year.
In related news, SVP Justin J. Noznesky sold 12,569 shares of AtriCure stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $27.64, for a total value 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 approximately $2,876,439.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by company insiders.
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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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