AtriCure, Inc. (NASDAQ:ATRC) Short Interest Update

AtriCure, Inc. (NASDAQ:ATRC) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 2,250,000 shares, a decrease of 31.6% from the October 15th total of 3,290,000 shares. Based on an average daily trading volume, of 586,600 shares, the short-interest ratio is presently 3.8 days.

Hedge Funds Weigh In On AtriCure

Several large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its stake in AtriCure by 17.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 10,462 shares of the medical device company’s stock worth $318,000 after buying an additional 1,562 shares during the period. ProShare Advisors LLC boosted its stake in shares of AtriCure by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after purchasing an additional 659 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of AtriCure by 34.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,859 shares of the medical device company’s stock worth $543,000 after purchasing an additional 4,560 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of AtriCure by 26.7% in the first quarter. Orion Portfolio Solutions LLC now owns 68,121 shares of the medical device company’s stock worth $2,072,000 after buying an additional 14,360 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in AtriCure by 27.3% in the first quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock worth $81,556,000 after purchasing an additional 575,605 shares during the period. Institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ATRC. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Piper Sandler dropped 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. Needham & Company LLC lifted their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their target price on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.11.

AtriCure Trading Down 1.2 %

Shares of ATRC opened at $36.20 on Thursday. The stock has a market capitalization of $1.76 billion, a PE ratio of -43.61 and a beta of 1.41. The company’s fifty day moving average is $29.72 and its 200 day moving average is $25.27. 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 has a fifty-two week low of $18.94 and a fifty-two week high of $43.00.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $115.91 million during the quarter, compared to the consensus estimate of $112.23 million. During the same quarter last year, the firm earned ($0.20) EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Sell-side analysts expect that AtriCure will post -0.72 earnings per share for the current fiscal year.

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.