Kennedy Capital Management LLC Increases Position in AtriCure, Inc. $ATRC

Kennedy Capital Management LLC boosted its position in AtriCure, Inc. (NASDAQ:ATRC) by 36.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 836,916 shares of the medical device company’s stock after acquiring an additional 222,529 shares during the quarter. AtriCure accounts for approximately 0.7% of Kennedy Capital Management LLC’s portfolio, making the stock its 12th largest holding. Kennedy Capital Management LLC’s holdings in AtriCure were worth $29,501,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP purchased a new position in shares of AtriCure in the 2nd quarter worth about $4,353,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in AtriCure by 121.9% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 201,214 shares of the medical device company’s stock worth $6,594,000 after buying an additional 110,521 shares during the last quarter. Bank of America Corp DE lifted its position in AtriCure by 15.7% in the 2nd quarter. Bank of America Corp DE now owns 710,173 shares of the medical device company’s stock worth $23,272,000 after buying an additional 96,313 shares during the last quarter. Jane Street Group LLC boosted its stake in AtriCure by 658.3% in the first quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock worth $3,254,000 after buying an additional 87,553 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in AtriCure by 32.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 351,278 shares of the medical device company’s stock valued at $12,383,000 after acquiring an additional 86,934 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Citizens Jmp lowered their price target on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating for the company in a research note on Wednesday, February 18th. BTIG Research restated a “buy” rating and set a $54.00 price target on shares of AtriCure in a research report on Wednesday, February 18th. Canaccord Genuity Group reduced their price objective on AtriCure from $64.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, Zacks Research downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.43.

AtriCure Trading Up 0.5%

Shares of NASDAQ ATRC traded up $0.15 during mid-day trading on Friday, hitting $29.68. The stock had a trading volume of 53,799 shares, compared to its average volume of 670,675. The business has a 50 day moving average price of $35.44 and a two-hundred day moving average price of $36.18. AtriCure, Inc. has a 1 year low of $28.29 and a 1 year high of $43.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96. The firm has a market cap of $1.48 billion, a P/E ratio of -123.89 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The business had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $140.50 million. During the same quarter in the prior year, the company posted ($0.33) EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.