Granite Investment Partners LLC Decreases Stake in AtriCure, Inc. (NASDAQ:ATRC)

Granite Investment Partners LLC decreased its position in shares of AtriCure, Inc. (NASDAQ:ATRC – Get Rating) by 1.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 401,244 shares of the medical device company’s stock after selling 5,947 shares during the quarter. Granite Investment Partners LLC’s holdings in AtriCure were worth $17,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of ATRC. Almanack Investment Partners LLC. acquired a new position in AtriCure in the third quarter valued at $43,000. Point72 Hong Kong Ltd bought a new stake in shares of AtriCure in the 2nd quarter worth $68,000. Lazard Asset Management LLC grew its holdings in shares of AtriCure by 29.7% in the 3rd quarter. Lazard Asset Management LLC now owns 1,818 shares of the medical device company’s stock worth $71,000 after acquiring an additional 416 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of AtriCure by 37.5% during the third quarter. First Horizon Advisors Inc. now owns 1,975 shares of the medical device company’s stock valued at $76,000 after buying an additional 539 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of AtriCure during the second quarter valued at $117,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

AtriCure Stock Up 0.6 %

NASDAQ:ATRC traded up $0.29 during mid-day trading on Friday, reaching $47.36. The stock had a trading volume of 64,021 shares, compared to its average volume of 323,033. The stock has a 50-day simple moving average of $43.57 and a two-hundred day simple moving average of $43.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.03 and a current ratio of 3.82. AtriCure, Inc. has a 12 month low of $32.51 and a 12 month high of $52.96.

AtriCure (NASDAQ:ATRC – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The medical device company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.11. AtriCure had a negative net margin of 10.81% and a negative return on equity of 9.18%. The company had revenue of $93.49 million for the quarter, compared to analysts’ expectations of $87.53 million. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. AtriCure’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, research analysts anticipate that AtriCure, Inc. will post -1.11 EPS for the current year.

Analysts Set New Price Targets

ATRC has been the topic of a number of recent research reports. Stifel Nicolaus boosted their target price on AtriCure from $48.00 to $50.00 in a research note on Wednesday, May 3rd. Canaccord Genuity Group lowered their price target on AtriCure from $81.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. BTIG Research lowered their price objective on AtriCure from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Needham & Company LLC increased their price target on AtriCure from $58.00 to $60.00 in a research report on Wednesday, May 3rd. Finally, StockNews.com assumed coverage on AtriCure in a research report on Thursday, May 18th. They set a “hold” rating on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AtriCure presently has an average rating of “Moderate Buy” and a consensus price target of $59.83.

AtriCure Company Profile

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AtriCure, Inc engages in the development, manufacture, and sale of surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration.