Champlain Investment Partners LLC Raises Position in AtriCure, Inc. (NASDAQ:ATRC)

Champlain Investment Partners LLC lifted its position in shares of AtriCure, Inc. (NASDAQ:ATRC) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,790,758 shares of the medical device company’s stock after acquiring an additional 115,813 shares during the quarter. Champlain Investment Partners LLC owned 5.72% of AtriCure worth $78,253,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in AtriCure during the 3rd quarter worth approximately $28,000. Comerica Bank raised its position in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after acquiring an additional 1,043 shares in the last quarter. nVerses Capital LLC lifted its holdings in AtriCure by 733.3% in the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after acquiring an additional 4,400 shares during the period. Quest Partners LLC boosted its position in shares of AtriCure by 38.3% during the 2nd quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of AtriCure during the 1st quarter worth $224,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Stock Up 0.2 %

ATRC opened at $35.74 on Friday. The firm has a market cap of $1.74 billion, a P/E ratio of -42.99 and a beta of 1.41. The business’s fifty day simple moving average is $30.78 and its 200 day simple moving average is $25.77. AtriCure, Inc. has a 52 week low of $18.94 and a 52 week high of $42.99. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02. The company had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the company earned ($0.20) EPS. As a group, equities research analysts anticipate that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Piper Sandler decreased their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. UBS Group raised their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their target price on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, BTIG Research dropped their price target on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

About AtriCure

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.