Champlain Investment Partners LLC Raises Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Champlain Investment Partners LLC raised its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,790,758 shares of the medical device company’s stock after acquiring an additional 115,813 shares during the period. Champlain Investment Partners LLC owned approximately 0.06% of AtriCure worth $78,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its holdings in shares of AtriCure by 187.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 110,669 shares of the medical device company’s stock worth $2,520,000 after purchasing an additional 72,200 shares during the period. Kennedy Capital Management LLC grew its stake in AtriCure by 115.5% during the first quarter. Kennedy Capital Management LLC now owns 227,193 shares of the medical device company’s stock worth $6,911,000 after buying an additional 121,752 shares during the period. Renaissance Technologies LLC increased its position in shares of AtriCure by 12.8% in the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock worth $3,910,000 after acquiring an additional 19,500 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of AtriCure in the 3rd quarter valued at $488,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of AtriCure by 151.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock valued at $6,425,000 after acquiring an additional 138,046 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Stock Up 0.2 %

Shares of NASDAQ:ATRC opened at $35.74 on Friday. AtriCure, Inc. has a 12-month low of $18.94 and a 12-month high of $42.99. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.74 billion, a PE ratio of -42.99 and a beta of 1.41. The company has a fifty day simple moving average of $30.78 and a 200 day simple moving average of $25.77.

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

Analyst Upgrades and Downgrades

ATRC has been the topic of several research reports. Canaccord Genuity Group raised their price objective on AtriCure from $49.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler lowered their price objective on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, BTIG Research decreased their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and an average price target 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.