Nuveen Asset Management LLC Has $19.42 Million Stake in AtriCure, Inc. (NASDAQ:ATRC)

Posted by on Mar 4th, 2023

Nuveen Asset Management LLC decreased its stake in AtriCure, Inc. (NASDAQ:ATRC – Get Rating) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,726 shares of the medical device company’s stock after selling 38,510 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.07% of AtriCure worth $19,422,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ATRC. PNC Financial Services Group Inc. boosted its stake in AtriCure by 47.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,975 shares of the medical device company’s stock valued at $392,000 after buying an additional 1,931 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in AtriCure in the 1st quarter valued at $343,000. MetLife Investment Management LLC boosted its stake in AtriCure by 54.8% in the 1st quarter. MetLife Investment Management LLC now owns 24,141 shares of the medical device company’s stock valued at $1,585,000 after buying an additional 8,549 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in AtriCure by 7.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 717,125 shares of the medical device company’s stock valued at $47,092,000 after buying an additional 46,705 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in AtriCure by 0.5% in the 1st quarter. Sei Investments Co. now owns 94,103 shares of the medical device company’s stock valued at $6,182,000 after buying an additional 461 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ATRC. Canaccord Genuity Group reduced their price objective on AtriCure from $81.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. Stifel Nicolaus reduced their price objective on AtriCure from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. BTIG Research reduced their price objective on AtriCure from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 22nd. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research note on Monday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $58.00 price objective on shares of AtriCure in a research note on Wednesday, February 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.17.

AtriCure Trading Up 1.9 %

Shares of ATRC opened at $39.93 on Friday. The company has a quick ratio of 2.90, a current ratio of 3.69 and a debt-to-equity ratio of 0.14. AtriCure, Inc. has a 12-month low of $32.51 and a 12-month high of $69.42. The firm has a market capitalization of $1.86 billion, a PE ratio of -39.53 and a beta of 1.31. The stock’s fifty day simple moving average is $42.74 and its 200-day simple moving average is $42.81.

AtriCure (NASDAQ:ATRC – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The medical device company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $88.00 million during the quarter, compared to the consensus estimate of $87.90 million. AtriCure had a negative return on equity of 10.18% and a negative net margin of 14.06%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.30) earnings per share. As a group, research analysts predict that AtriCure, Inc. will post -1.07 earnings per share for the current year.

AtriCure Profile

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AtriCure, Inc engages in the development, manufacture, and sale of devices designed primarily for the surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration.

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Institutional Ownership by Quarter for AtriCure (NASDAQ:ATRC)

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