Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,880 Shares of AtriCure, Inc. (NASDAQ:ATRC)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 38.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,053 shares of the medical device company’s stock after acquiring an additional 3,880 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AtriCure were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Hood River Capital Management LLC bought a new position in AtriCure in the 2nd quarter valued at $40,422,000. First Light Asset Management LLC boosted its holdings in shares of AtriCure by 42.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock worth $44,736,000 after buying an additional 581,843 shares during the last quarter. Millennium Management LLC grew its position in AtriCure by 132.5% during the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock valued at $21,694,000 after buying an additional 543,023 shares during the period. Assenagon Asset Management S.A. increased its holdings in AtriCure by 151.6% during the third quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock worth $6,425,000 after buying an additional 138,046 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in AtriCure by 31.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock worth $14,038,000 after acquiring an additional 119,929 shares during the period. 99.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group increased their target price on shares of AtriCure from $49.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC raised their target price on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped 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 price objective on AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

AtriCure Stock Performance

Shares of ATRC opened at $34.25 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -41.27 and a beta of 1.40. AtriCure, Inc. has a 52-week low of $18.94 and a 52-week high of $39.04. The stock’s 50-day simple moving average is $32.39 and its 200 day simple moving average is $26.85.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating the consensus estimate 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 company had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter in the previous year, the company earned ($0.20) earnings per share. AtriCure’s revenue for the quarter was up 17.9% on a year-over-year basis. Research analysts forecast that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

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.