Hsbc Holdings PLC Boosts Holdings in AtriCure, Inc. (NASDAQ:ATRC)

Hsbc Holdings PLC raised its holdings in shares of AtriCure, Inc. (NASDAQ:ATRC) by 39.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,918 shares of the medical device company’s stock after buying an additional 6,772 shares during the period. Hsbc Holdings PLC owned about 0.05% of AtriCure worth $857,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Aigen Investment Management LP increased its stake in shares of AtriCure by 24.0% in the 4th quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock worth $255,000 after purchasing an additional 1,383 shares in the last quarter. Assetmark Inc. grew its holdings in AtriCure by 74.2% during the fourth quarter. Assetmark Inc. now owns 17,497 shares of the medical device company’s stock valued at $624,000 after purchasing an additional 7,451 shares during the period. Quest Partners LLC bought a new stake in AtriCure during the fourth quarter valued at about $103,000. Trexquant Investment LP increased its position in AtriCure by 202.2% in the fourth quarter. Trexquant Investment LP now owns 97,193 shares of the medical device company’s stock worth $3,469,000 after buying an additional 65,026 shares in the last quarter. Finally, Norges Bank bought a new position in shares of AtriCure in the fourth quarter worth about $9,254,000. 99.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the transaction, the insider now directly owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the transaction, the insider now directly owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl S. Dahlquist sold 1,885 shares of AtriCure stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the transaction, the insider now directly owns 50,954 shares of the company’s stock, valued at $1,638,680.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,116 shares of company stock worth $468,797. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Needham & Company LLC cut their price objective on AtriCure from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price objective on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group upped their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Canaccord Genuity Group decreased their price target on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.78.

AtriCure Price Performance

ATRC traded down $2.54 during trading hours on Thursday, hitting $22.22. The company’s stock had a trading volume of 2,753,181 shares, compared to its average volume of 710,448. The business’s 50-day moving average price is $29.30 and its 200-day moving average price is $33.32. AtriCure, Inc. has a 12 month low of $20.19 and a 12 month high of $59.61. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -33.67 and a beta of 1.41. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The business had revenue of $108.90 million during the quarter, compared to the consensus estimate of $106.86 million. During the same quarter in the prior year, the firm posted ($0.23) EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. Sell-side analysts expect that AtriCure, Inc. will post -0.71 earnings per share for the current fiscal year.

AtriCure 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.