AtriCure, Inc. (NASDAQ:ATRC) Short Interest Down 25.8% in November

AtriCure, Inc. (NASDAQ:ATRC) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,670,000 shares, a drop of 25.8% from the October 31st total of 2,250,000 shares. Based on an average daily trading volume, of 567,600 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATRC. Bayesian Capital Management LP acquired a new position in AtriCure during the first quarter worth $344,000. Comerica Bank increased its holdings in shares of AtriCure by 70.5% during the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after acquiring an additional 1,043 shares during the last quarter. Diversified Trust Co raised its stake in shares of AtriCure by 4.7% in the 2nd quarter. Diversified Trust Co now owns 34,980 shares of the medical device company’s stock valued at $796,000 after acquiring an additional 1,558 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in AtriCure by 8.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 309,547 shares of the medical device company’s stock worth $7,048,000 after purchasing an additional 23,436 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its position in AtriCure by 664.1% during the second quarter. HighMark Wealth Management LLC now owns 69,725 shares of the medical device company’s stock worth $1,588,000 after purchasing an additional 60,600 shares during the period. Institutional investors own 99.11% of the company’s stock.

AtriCure Stock Down 0.0 %

ATRC traded down $0.01 during trading on Friday, reaching $36.16. 333,227 shares of the stock traded hands, compared to its average volume of 713,326. The stock’s 50-day simple moving average is $31.71 and its two-hundred day simple moving average is $26.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $39.04. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -43.57 and a beta of 1.41.

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

Analysts Set New Price Targets

ATRC has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Needham & Company LLC raised their target price on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on AtriCure from $49.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer raised their price objective on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.