AtriCure, Inc. (NASDAQ:ATRC) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 39.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,918 shares of the medical device company’s stock after buying an additional 6,772 shares during the quarter. Hsbc Holdings PLC’s holdings in AtriCure were worth $857,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ATRC. Knights of Columbus Asset Advisors LLC boosted its holdings in AtriCure by 165.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock valued at $4,409,000 after purchasing an additional 77,055 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in AtriCure by 31.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 68,188 shares of the medical device company’s stock valued at $2,434,000 after purchasing an additional 16,168 shares in the last quarter. CenterBook Partners LP acquired a new position in AtriCure in the third quarter valued at approximately $770,000. Decheng Capital Management III Cayman LLC purchased a new stake in AtriCure in the third quarter valued at approximately $2,026,000. Finally, Envestnet Asset Management Inc. lifted its stake in AtriCure by 127.9% in the third quarter. Envestnet Asset Management Inc. now owns 116,990 shares of the medical device company’s stock valued at $5,124,000 after buying an additional 65,653 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Stock Performance

Shares of AtriCure stock traded down $2.54 during trading hours on Thursday, hitting $22.22. 2,753,181 shares of the company were exchanged, compared to its average volume of 710,448. AtriCure, Inc. has a 1 year low of $20.19 and a 1 year high of $59.61. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $29.30 and a 200-day moving average of $33.32. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -33.67 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $108.90 million for the quarter, compared to analysts’ expectations of $106.86 million. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. AtriCure’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.23) EPS. As a group, analysts expect that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ATRC has been the subject of a number of research reports. Canaccord Genuity Group reduced their price objective on AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus reduced their price objective on AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Oppenheimer upgraded AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Tuesday, April 23rd. StockNews.com cut AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their price objective on AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.78.

Insiders Place Their Bets

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the transaction, the insider now owns 74,284 shares in the company, valued at $2,727,708.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the sale, the insider now directly owns 74,284 shares in the company, valued at approximately $2,727,708.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,116 shares of company stock worth $468,797. 3.20% of the stock is owned by corporate insiders.

About AtriCure

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.