First Horizon Advisors Inc. Has $30,000 Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

First Horizon Advisors Inc. cut its position in AtriCure, Inc. (NASDAQ:ATRC) by 34.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,086 shares of the medical device company’s stock after selling 578 shares during the quarter. First Horizon Advisors Inc.’s holdings in AtriCure were worth $30,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System increased its stake in shares of AtriCure by 4.0% in the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after purchasing an additional 517 shares during the period. Bank of Montreal Can increased its position in AtriCure by 4.0% in the 2nd quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock worth $488,000 after buying an additional 831 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of AtriCure during the third quarter worth approximately $28,000. Comerica Bank boosted its position in shares of AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after acquiring an additional 1,043 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of AtriCure by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 24,919 shares of the medical device company’s stock worth $567,000 after acquiring an additional 1,429 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ATRC. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Canaccord Genuity Group lifted 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 upped their price target on AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler decreased their price objective on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research report 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’s stock. According to data from MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure Price Performance

Shares of ATRC stock opened at $36.01 on Tuesday. 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 stock’s fifty day simple moving average is $30.93 and its 200 day simple moving average is $25.93. AtriCure, Inc. has a one year low of $18.94 and a one year high of $42.99. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -43.40 and a beta of 1.41.

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

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.