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AtriCure (ATRC) Declined due to Concerns Over Anti-Obesity Drug

Soumya Eswaran
·2 分鐘文章

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the quarter the fund returned 9.15% (net), compared to a 12.75% return for the Russell 2000 Growth Index. For the year, the fund returned 15.96% (net) compared to 18.66% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Small Cap Growth Strategy featured stocks like AtriCure, Inc. (NASDAQ:ATRC) in its Q4 2023 investor letter. Headquartered in Mason, Ohio, AtriCure, Inc. (NASDAQ:ATRC) develops and manufactures devices for surgical ablation. On March 21, 2024, AtriCure, Inc. (NASDAQ:ATRC) stock closed at $29.73 per share. One-month return of AtriCure, Inc. (NASDAQ:ATRC) was -11.41%, and its shares lost 27.19% of their value over the last 52 weeks. AtriCure, Inc. (NASDAQ:ATRC) has a market capitalization of $1.415 billion.

TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding AtriCure, Inc. (NASDAQ:ATRC) in its fourth quarter 2023 investor letter:

"Skipping a beat was AtriCure, Inc. (NASDAQ:ATRC), a medical device developer of instruments to treat atrial fibrillation. Its shares trended down -19% this quarter on concerns that anti-obesity drugs would obviate the need for these types of cardiovascular medical devices. Despite reporting better-than-expected results and an upbeat forecast by AtriCure’s management, many of those market worries lingered. Not for us though, and we added to our position."

A medical technician holding a modern ablation device in a hospital operating theatre.

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AtriCure, Inc. (NASDAQ:ATRC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, AtriCure, Inc. (NASDAQ:ATRC) was held by 22 hedge fund portfolios, down from 24 in the previous quarter, according to our database.

We discussed AtriCure, Inc. (NASDAQ:ATRC) in another article and shared Alger Small Cap Growth Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.