AtriCure (NASDAQ:ATRC) Sets New 52-Week High at $36.00

AtriCure Inc. (NASDAQ:ATRC)’s share price reached a new 52-week high on Thursday . The stock traded as high as $36.00 and last traded at $35.95, with a volume of 52299 shares. The stock had previously closed at $35.30.

ATRC has been the topic of several recent analyst reports. ValuEngine lowered shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Zacks Investment Research lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. Finally, BidaskClub raised shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $36.00.

The company has a debt-to-equity ratio of 0.29, a current ratio of 3.11 and a quick ratio of 2.49. The stock’s 50 day simple moving average is $31.57 and its two-hundred day simple moving average is $28.94. The stock has a market cap of $1.34 billion, a P/E ratio of -38.35 and a beta of 0.32.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Wednesday, October 30th. The medical device company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.03. AtriCure had a negative net margin of 10.13% and a negative return on equity of 13.59%. The firm had revenue of $56.60 million for the quarter, compared to analyst estimates of $55.12 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. As a group, analysts forecast that AtriCure Inc. will post -1.11 earnings per share for the current fiscal year.

In other AtriCure news, CFO M. Andrew Wade sold 11,705 shares of AtriCure stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $30.00, for a total value of $351,150.00. Following the transaction, the chief financial officer now owns 144,715 shares of the company’s stock, valued at $4,341,450. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Justin J. Noznesky sold 29,134 shares of AtriCure stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $32.89, for a total transaction of $958,217.26. Following the completion of the transaction, the senior vice president now directly owns 106,568 shares in the company, valued at approximately $3,505,021.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,748 shares of company stock worth $4,512,727. Insiders own 8.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in AtriCure by 2.8% in the 2nd quarter. BlackRock Inc. now owns 3,037,373 shares of the medical device company’s stock worth $90,637,000 after acquiring an additional 82,750 shares during the last quarter. Vanguard Group Inc. grew its holdings in AtriCure by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,875,198 shares of the medical device company’s stock valued at $55,955,000 after buying an additional 46,010 shares in the last quarter. First Light Asset Management LLC grew its holdings in AtriCure by 21.6% during the 2nd quarter. First Light Asset Management LLC now owns 1,111,740 shares of the medical device company’s stock valued at $33,174,000 after buying an additional 197,433 shares in the last quarter. GW&K Investment Management LLC grew its holdings in AtriCure by 17.2% during the 3rd quarter. GW&K Investment Management LLC now owns 988,987 shares of the medical device company’s stock valued at $24,665,000 after buying an additional 145,240 shares in the last quarter. Finally, Tamarack Advisers LP grew its holdings in AtriCure by 25.9% during the 3rd quarter. Tamarack Advisers LP now owns 850,000 shares of the medical device company’s stock valued at $21,199,000 after buying an additional 175,000 shares in the last quarter. 88.41% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Company Profile (NASDAQ:ATRC)

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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