Connor Clark & Lunn Investment Management Ltd. Has $5.55 Million Position in AtriCure, Inc. (NASDAQ:ATRC)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 181,722 shares of the medical device company’s stock after selling 4,097 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AtriCure were worth $5,553,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ATRC. Champlain Investment Partners LLC raised its position in AtriCure by 4.3% in the third quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock worth $78,253,000 after purchasing an additional 115,813 shares in the last quarter. Wellington Management Group LLP raised its position in AtriCure by 0.4% in the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock worth $43,291,000 after purchasing an additional 6,045 shares in the last quarter. State Street Corp grew its stake in AtriCure by 4.9% during the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock worth $37,710,000 after buying an additional 63,002 shares during the last quarter. Geode Capital Management LLC grew its stake in AtriCure by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after buying an additional 32,676 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in AtriCure by 14.6% during the third quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock worth $18,621,000 after buying an additional 84,700 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insiders Place Their Bets

In related news, Director Karen Prange sold 6,100 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the sale, the director now directly owns 17,828 shares in the company, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.20% of the company’s stock.

AtriCure Trading Up 1.7 %

ATRC opened at $33.31 on Monday. The firm’s fifty day moving average is $38.10 and its two-hundred day moving average is $33.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The firm has a market cap of $1.63 billion, a PE ratio of -35.06 and a beta of 1.53. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.11.

Analyst Ratings Changes

ATRC has been the topic of several research analyst reports. Canaccord Genuity Group upped their price objective on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Piper Sandler upped their price objective on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Stifel Nicolaus upped their price objective on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Oppenheimer increased their price target on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $51.00 price target on shares of AtriCure in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

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.