Alberta Investment Management Corp Boosts Stock Position in AtriCure, Inc. (NASDAQ:ATRC)

Alberta Investment Management Corp raised its stake in shares of AtriCure, Inc. (NASDAQ:ATRC) by 31.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,603 shares of the medical device company’s stock after acquiring an additional 4,236 shares during the period. Alberta Investment Management Corp’s holdings in AtriCure were worth $538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC raised its stake in AtriCure by 4.3% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company’s stock valued at $78,253,000 after acquiring an additional 115,813 shares during the last quarter. Wellington Management Group LLP raised its stake in AtriCure by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after acquiring an additional 6,045 shares during the last quarter. State Street Corp raised its stake in AtriCure by 4.9% during the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after acquiring an additional 63,002 shares during the last quarter. Geode Capital Management LLC raised its stake in AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after acquiring an additional 32,676 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in AtriCure by 14.6% during the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after acquiring an additional 84,700 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Stock Performance

AtriCure stock opened at $38.39 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.65. The stock has a fifty day moving average of $36.36 and a two-hundred day moving average of $32.04. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -40.41 and a beta of 1.46. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $43.11.

Analyst Upgrades and Downgrades

Several analysts have commented on ATRC shares. Stifel Nicolaus upped their price objective on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Canaccord Genuity Group boosted their target price on AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Oppenheimer boosted their target price on AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.56.

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.