Millrace Asset Group Inc. Grows Position in AtriCure, Inc. (NASDAQ:ATRC)

Millrace Asset Group Inc. raised its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,708 shares of the medical device company’s stock after acquiring an additional 1,660 shares during the quarter. AtriCure accounts for about 2.0% of Millrace Asset Group Inc.’s holdings, making the stock its 15th biggest position. Millrace Asset Group Inc. owned about 0.15% of AtriCure worth $2,011,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ATRC. Hood River Capital Management LLC acquired a new stake in shares of AtriCure in the second quarter valued at about $40,422,000. First Light Asset Management LLC lifted its position in shares of AtriCure by 42.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock valued at $44,736,000 after acquiring an additional 581,843 shares during the period. Millennium Management LLC boosted its stake in shares of AtriCure by 132.5% during the 2nd quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock worth $21,694,000 after acquiring an additional 543,023 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of AtriCure by 151.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock worth $6,425,000 after acquiring an additional 138,046 shares during the period. Finally, Kennedy Capital Management LLC increased its stake in AtriCure by 115.5% in the 1st quarter. Kennedy Capital Management LLC now owns 227,193 shares of the medical device company’s stock valued at $6,911,000 after purchasing an additional 121,752 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ATRC. Canaccord Genuity Group boosted their target price on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC increased their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. JPMorgan Chase & Co. increased their price target on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, BTIG Research cut their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.11.

AtriCure Trading Up 0.8 %

NASDAQ ATRC opened at $36.01 on Tuesday. The company has a market cap of $1.76 billion, a P/E ratio of -43.39 and a beta of 1.41. AtriCure, Inc. has a 12 month low of $18.94 and a 12 month high of $42.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The company has a 50-day moving average of $31.10 and a 200-day moving average of $26.03.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. The firm had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. AtriCure’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.20) earnings per share. As a group, equities analysts predict that AtriCure, Inc. will post -0.72 earnings per share for the current year.

AtriCure 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.