Geode Capital Management LLC Decreases Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Geode Capital Management LLC trimmed its position in AtriCure, Inc. (NASDAQ:ATRC) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,151,049 shares of the medical device company’s stock after selling 1,579 shares during the period. Geode Capital Management LLC’s holdings in AtriCure were worth $35,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ATRC. Arrowstreet Capital Limited Partnership acquired a new stake in shares of AtriCure during the 4th quarter worth approximately $816,000. Orion Portfolio Solutions LLC lifted its position in AtriCure by 9.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 44,584 shares of the medical device company’s stock worth $1,362,000 after buying an additional 3,963 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in AtriCure during the fourth quarter worth about $206,000. Norges Bank purchased a new position in AtriCure in the fourth quarter worth approximately $3,421,000. Finally, JPMorgan Chase & Co. raised its holdings in AtriCure by 43.1% in the 4th quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company’s stock valued at $11,160,000 after buying an additional 110,039 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

Insider Activity at AtriCure

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 transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.20% of the company’s stock.

AtriCure Price Performance

ATRC stock opened at $32.08 on Thursday. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $43.11. The firm has a market cap of $1.57 billion, a P/E ratio of -33.77 and a beta of 1.65. The stock’s 50 day moving average price is $35.49 and its 200 day moving average price is $34.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65.

Analyst Ratings Changes

Several research firms recently issued reports on ATRC. JMP Securities reissued a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. Stifel Nicolaus raised their price objective on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BTIG Research reissued a “buy” rating on shares of AtriCure in a report on Thursday, March 27th. Oppenheimer lifted their target price on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Piper Sandler lifted their price target on AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.