Arcadia Investment Management Corp MI Makes New Investment in AtriCure, Inc. (NASDAQ:ATRC)

Arcadia Investment Management Corp MI acquired a new position in shares of AtriCure, Inc. (NASDAQ:ATRC) in the 3rd quarter, HoldingsChannel reports. The fund acquired 1,000 shares of the medical device company’s stock, valued at approximately $28,000.

Several other hedge funds also recently modified their holdings of ATRC. Norden Group LLC bought a new position in AtriCure during the first quarter worth $440,000. Diversify Advisory Services LLC bought a new position in shares of AtriCure during the 1st quarter worth about $258,000. GSA Capital Partners LLP boosted its position in shares of AtriCure by 65.7% during the 1st quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock worth $1,089,000 after purchasing an additional 14,194 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of AtriCure by 17.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,462 shares of the medical device company’s stock valued at $318,000 after buying an additional 1,562 shares during the period. Finally, ProShare Advisors LLC increased its position in AtriCure by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after buying an additional 659 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Trading Up 1.0 %

Shares of ATRC stock opened at $33.51 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -40.37 and a beta of 1.44. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $43.00. The company has a 50-day simple moving average of $28.02 and a two-hundred day simple moving average of $24.52.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. The company had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.14% and a negative net margin of 8.70%. AtriCure’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.20) earnings per share. Research analysts anticipate that AtriCure, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ATRC has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Canaccord Genuity Group boosted their target price on shares of AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC upped their target price on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler cut their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, BTIG Research decreased their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One investment 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, AtriCure has an average rating of “Moderate Buy” and an average price target of $43.11.

Insider Activity

In related news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

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.