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

Millrace Asset Group Inc. raised its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 2.4% during the third quarter, HoldingsChannel reports. The institutional investor 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 investment portfolio, making the stock its 15th largest holding. Millrace Asset Group Inc.’s holdings in AtriCure were worth $2,011,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Champlain Investment Partners LLC lifted its holdings in shares of AtriCure by 4.3% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock valued at $78,253,000 after acquiring an additional 115,813 shares in the last quarter. First Light Asset Management LLC lifted its stake in shares of AtriCure by 42.1% during the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock worth $44,736,000 after purchasing an additional 581,843 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of AtriCure in the second quarter worth about $40,422,000. Millennium Management LLC grew its stake in shares of AtriCure by 132.5% in the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock valued at $21,694,000 after buying an additional 543,023 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of AtriCure by 1.1% during the 2nd quarter. Fiera Capital Corp now owns 918,207 shares of the medical device company’s stock valued at $20,908,000 after buying an additional 10,432 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Trading Up 0.8 %

Shares of NASDAQ ATRC opened at $36.01 on Tuesday. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $31.10 and its two-hundred day moving average price is $26.03. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $42.99. The stock has a market capitalization of $1.76 billion, a P/E ratio of -43.39 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02. The firm had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. On average, analysts anticipate that AtriCure, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, Oppenheimer boosted their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

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.