Commerce Bank Raises Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Commerce Bank lifted its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 23.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,470 shares of the medical device company’s stock after buying an additional 2,181 shares during the period. Commerce Bank’s holdings in AtriCure were worth $322,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ATRC. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of AtriCure in the 3rd quarter worth approximately $880,000. Royce & Associates LP grew its holdings in shares of AtriCure by 8.0% in the 3rd quarter. Royce & Associates LP now owns 64,785 shares of the medical device company’s stock worth $1,817,000 after acquiring an additional 4,800 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of AtriCure in the 3rd quarter worth approximately $276,000. Emerald Advisers LLC grew its holdings in shares of AtriCure by 10.9% in the 3rd quarter. Emerald Advisers LLC now owns 389,836 shares of the medical device company’s stock worth $10,931,000 after acquiring an additional 38,421 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of AtriCure in the 3rd quarter worth approximately $28,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $36.17 on Thursday. The business’s fifty day moving average price is $31.42 and its two-hundred day moving average price is $26.20. The stock has a market cap of $1.76 billion, a PE ratio of -43.58 and a beta of 1.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. AtriCure, Inc. has a one year low of $18.94 and a one year high of $42.99.

AtriCure (NASDAQ:ATRC) last posted 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. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. On average, analysts forecast that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ATRC. Oppenheimer upped their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. JPMorgan Chase & Co. upped their price target on AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their price target on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their target price on AtriCure from $49.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. 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 presently has an average rating of “Moderate Buy” and an average target price of $43.11.

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.