Neuberger Berman Group LLC Lowers Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Neuberger Berman Group LLC lessened its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 939,188 shares of the medical device company’s stock after selling 2,947 shares during the period. Neuberger Berman Group LLC owned 1.93% of AtriCure worth $28,690,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ATRC. Raymond James Financial Inc. bought a new stake in AtriCure during the fourth quarter worth about $3,716,000. Renaissance Technologies LLC lifted its holdings in shares of AtriCure by 67.1% during the fourth quarter. Renaissance Technologies LLC now owns 163,900 shares of the medical device company’s stock valued at $5,009,000 after purchasing an additional 65,800 shares during the last quarter. Invesco Ltd. boosted its position in shares of AtriCure by 0.8% in the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock worth $1,334,000 after purchasing an additional 334 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of AtriCure by 8.5% in the 4th quarter. Russell Investments Group Ltd. now owns 156,649 shares of the medical device company’s stock worth $4,787,000 after purchasing an additional 12,212 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of AtriCure in the 4th quarter worth approximately $988,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Karen Prange sold 6,100 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the transaction, the director now owns 17,828 shares in the company, valued at $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price objective on AtriCure from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. BTIG Research reaffirmed a “buy” rating on shares of AtriCure in a research report on Thursday, March 27th. Stifel Nicolaus increased their price objective on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Piper Sandler lifted their target price on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Canaccord Genuity Group dropped their target price on shares of AtriCure from $66.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus target price of $49.44.

AtriCure Stock Down 4.4 %

Shares of AtriCure stock opened at $31.64 on Friday. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.11. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $36.18 and its 200 day moving average is $34.25. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -33.30 and a beta of 1.65.

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.