雅虎香港財經 AtriCure (ATRC) Fell on Competitor Action
Fred Alger Management, an investment management company, released its “Alger Small Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fourth quarter witnessed a significant easing in financial conditions, which was most notable in the final two months. Class A shares of the fund outperformed the Russell 2000 Growth Index during the quarter. The Information Technology and Healthcare sectors contributed to the fund’s relative performance in the quarter, while financial and consumer staples detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Alger Small Cap Growth Fund featured stocks like AtriCure, Inc. (NASDAQ:ATRC) in its Q4 2023 investor letter. Headquartered in Mason, Ohio, AtriCure, Inc. (NASDAQ:ATRC) develops and manufacturers devices for surgical ablation. On February 27, 2024, AtriCure, Inc. (NASDAQ:ATRC) stock closed at $34.19 per share. One-month return of AtriCure, Inc. (NASDAQ:ATRC) was 0.80%, and its shares declined 11.19% of their value over the last 52 weeks. AtriCure, Inc. (NASDAQ:ATRC) has a market capitalization of $1.627 billion.
Alger Small Cap Growth Fund stated the following regarding AtriCure, Inc. (NASDAQ:ATRC) in its fourth quarter 2023 investor letter:
"AtriCure, Inc. (NASDAQ:ATRC) specializes in developing medical device technology for treating atrial fibrillation (Afib), managing left atrial appendage (LAA), and post-operative pain relief. Its product range includes devices for surgical ablation of cardiac tissue, systems for LAA exclusion, and devices for nerve ablation to manage pain. The AtriClipsystem line, which contributes to about 40% of the company's sales, is designed for ablation and LAA management and is used in both open-heart and minimally invasive surgeries. During the quarter, shares detracted from performance after a competitor released their LAA exclusion system, challenging AtriCure's AtriClip, which was previously the only surgical LAA exclusion device on the U.S. market. While we believe some medical centers may experiment with the competitor's device, we do not anticipate a significant shift from AtriClip, given surgeons' familiarity and comfort with it."
A medical technician holding a modern ablation device in a hospital operating theatre.
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. 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.
