AtriCure, Inc. $ATRC Position Reduced by GW&K Investment Management LLC

GW&K Investment Management LLC reduced its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 861,035 shares of the medical device company’s stock after selling 147,305 shares during the period. GW&K Investment Management LLC owned about 1.73% of AtriCure worth $30,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of AtriCure by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 850,556 shares of the medical device company’s stock worth $29,980,000 after purchasing an additional 30,448 shares during the last quarter. Aster Capital Management DIFC Ltd increased its holdings in AtriCure by 197.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after buying an additional 538 shares during the last quarter. R Squared Ltd acquired a new stake in AtriCure during the third quarter valued at approximately $267,000. Hohimer Wealth Management LLC bought a new position in AtriCure during the 3rd quarter worth approximately $247,000. Finally, Semanteon Capital Management LP acquired a new position in shares of AtriCure in the 3rd quarter worth approximately $564,000. Institutional investors own 99.11% of the company’s stock.

AtriCure Trading Down 2.2%

AtriCure stock opened at $30.31 on Friday. AtriCure, Inc. has a 52-week low of $28.29 and a 52-week high of $43.18. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -126.29 and a beta of 1.42. The firm has a 50-day moving average price of $36.48 and a two-hundred day moving average price of $36.41. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS 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 firm had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $140.50 million. During the same quarter last year, the company earned ($0.33) EPS. AtriCure’s quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ATRC. Zacks Research cut AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Citizens Jmp dropped their target price on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 18th. Oppenheimer lowered shares of AtriCure from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Citigroup reaffirmed an “outperform” rating on shares of AtriCure in a research report on Wednesday, February 18th. Finally, BTIG Research reissued a “buy” rating and issued a $54.00 target price on shares of AtriCure in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.43.

AtriCure 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.