Adage Capital Partners GP L.L.C. Takes Position in AtriCure, Inc. (NASDAQ:ATRC)

Adage Capital Partners GP L.L.C. purchased a new stake in shares of AtriCure, Inc. (NASDAQ:ATRC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 300,000 shares of the medical device company’s stock, valued at approximately $9,168,000.

A number of other institutional investors and hedge funds have also modified their holdings of ATRC. Heck Capital Advisors LLC purchased a new position in AtriCure in the fourth quarter valued at about $60,000. Venturi Wealth Management LLC increased its holdings 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 acquiring an additional 2,100 shares during the last quarter. KBC Group NV increased its holdings 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 acquiring an additional 932 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of AtriCure by 232.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,871 shares of the medical device company’s stock valued at $88,000 after acquiring an additional 2,008 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of AtriCure during the 4th quarter valued at about $89,000. 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 AtriCure stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the sale, the director now owns 17,828 shares in the company, valued at $679,603.36. The trade was a 25.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

AtriCure Stock Up 0.8 %

ATRC opened at $33.67 on Tuesday. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week 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 firm’s fifty day moving average price is $34.21 and its two-hundred day moving average price is $34.70. The company has a market capitalization of $1.67 billion, a P/E ratio of -35.44 and a beta of 1.65.

Analyst Ratings Changes

ATRC has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their price objective on AtriCure from $66.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Oppenheimer increased their price objective on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. BTIG Research restated a “buy” rating on shares of AtriCure in a research note on Thursday, March 27th. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. Finally, Stifel Nicolaus increased their target price on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

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.