Two Sigma Advisers LP Buys 84,700 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Two Sigma Advisers LP grew its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 14.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 664,100 shares of the medical device company’s stock after acquiring an additional 84,700 shares during the period. Two Sigma Advisers LP’s holdings in AtriCure were worth $18,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in AtriCure by 4.9% in the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock worth $37,710,000 after purchasing an additional 63,002 shares in the last quarter. Arizona PSPRS Trust bought a new position in shares of AtriCure in the third quarter worth $1,657,000. Atom Investors LP purchased a new stake in shares of AtriCure in the third quarter worth $1,741,000. PDT Partners LLC bought a new stake in AtriCure during the third quarter valued at $665,000. Finally, Captrust Financial Advisors purchased a new position in AtriCure during the third quarter worth about $230,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ATRC. UBS Group lifted their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC lifted their price objective on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer increased their target price on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and an average price target of $41.00.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $34.25 on Monday. The company’s fifty day moving average is $32.39 and its 200 day moving average is $26.88. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $39.04. The stock has a market cap of $1.67 billion, a PE ratio of -41.27 and a beta of 1.40.

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, beating analysts’ consensus estimates 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 8.12% and a negative net margin of 8.70%. AtriCure’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) EPS. Research analysts anticipate that AtriCure, Inc. will post -0.72 earnings per share for the current year.

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.