Russell Investments Group Ltd. Raises Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Russell Investments Group Ltd. grew its holdings in AtriCure, Inc. (NASDAQ:ATRC) by 8.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 156,649 shares of the medical device company’s stock after acquiring an additional 12,212 shares during the period. Russell Investments Group Ltd.’s holdings in AtriCure were worth $4,787,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ATRC. 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 AtriCure by 1,337.6% during the fourth 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 grew its holdings in 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 in the last quarter. R Squared Ltd bought a new stake in AtriCure in the fourth quarter worth $89,000. Finally, AlphaQuest LLC raised its stake in AtriCure by 855.1% during the fourth quarter. AlphaQuest LLC now owns 5,062 shares of the medical device company’s stock valued at $155,000 after purchasing an additional 4,532 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

Insider Activity

In related news, Director Karen Prange sold 6,100 shares of the stock in a transaction that occurred 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 transaction, the director now owns 17,828 shares of the company’s stock, valued at $679,603.36. This represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

AtriCure Trading Up 1.7 %

Shares of ATRC opened at $32.62 on Tuesday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -34.34 and a beta of 1.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. AtriCure, Inc. has a 1-year low of $18.94 and a 1-year high of $43.11. The company has a 50-day moving average of $35.84 and a 200 day moving average of $34.34.

Analyst Ratings Changes

ATRC has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price objective on AtriCure from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. BTIG Research reiterated a “buy” rating on shares of AtriCure in a report on Thursday, March 27th. Piper Sandler lifted 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. Finally, Canaccord Genuity Group lowered their target price on shares of AtriCure from $66.00 to $52.00 and set a “buy” rating for the company in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.44.

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.