BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Stake in AtriCure, Inc. (NASDAQ:ATRC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 31.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 500,649 shares of the medical device company’s stock after buying an additional 119,929 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 1.03% of AtriCure worth $14,038,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ATRC. Arizona State Retirement System boosted its position in AtriCure by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after purchasing an additional 517 shares in the last quarter. ProShare Advisors LLC boosted its holdings in AtriCure by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after buying an additional 659 shares in the last quarter. Bank of Montreal Can grew its position in AtriCure by 4.0% during the second quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock valued at $488,000 after buying an additional 831 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in AtriCure during the third quarter valued at $28,000. Finally, Comerica Bank increased its holdings in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after buying an additional 1,043 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Price Performance

ATRC stock opened at $35.74 on Friday. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $42.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The firm has a market capitalization of $1.74 billion, a PE ratio of -43.05 and a beta of 1.41. The business has a 50 day simple moving average of $30.93 and a 200-day simple moving average of $25.87.

AtriCure (NASDAQ:ATRC) last issued 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. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The company had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same period in the prior year, the business earned ($0.20) EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. Equities research analysts anticipate that AtriCure, Inc. will post -0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on ATRC. UBS Group raised their target price on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BTIG Research cut their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Piper Sandler decreased their target price on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target 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, StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, AtriCure has an average rating of “Moderate Buy” and a consensus price target of $43.11.

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.