AlphaQuest LLC Grows Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

AlphaQuest LLC boosted its stake in AtriCure, Inc. (NASDAQ:ATRC) by 855.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,062 shares of the medical device company’s stock after acquiring an additional 4,532 shares during the quarter. AlphaQuest LLC’s holdings in AtriCure were worth $155,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in AtriCure in the 4th quarter worth approximately $60,000. Venturi Wealth Management LLC boosted its stake in shares of AtriCure by 1,337.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock valued at $69,000 after buying an additional 2,100 shares during the last quarter. KBC Group NV boosted its stake in shares of AtriCure by 65.3% during the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock valued at $72,000 after buying an additional 932 shares during the last quarter. R Squared Ltd purchased a new position in shares of AtriCure during the 4th quarter valued at approximately $89,000. Finally, M&T Bank Corp purchased a new position in shares of AtriCure during the 4th quarter valued at approximately $208,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Insiders Place Their Bets

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now directly owns 17,828 shares of the company’s stock, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is owned by corporate insiders.

AtriCure Price Performance

Shares of NASDAQ ATRC opened at $33.78 on Tuesday. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $43.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The business’s fifty day moving average price is $38.11 and its two-hundred day moving average price is $33.54. The firm has a market capitalization of $1.65 billion, a PE ratio of -35.56 and a beta of 1.53.

Analyst Upgrades and Downgrades

ATRC has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Piper Sandler increased their target price on AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $51.00 target price on shares of AtriCure in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a research report on Monday, February 10th. Finally, Stifel Nicolaus upped their price target on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

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.