AtriCure (NASDAQ:ATRC) Hits New 52-Week Low at $22.36

AtriCure, Inc. (NASDAQ:ATRC)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $22.36 and last traded at $22.40, with a volume of 211706 shares. The stock had previously closed at $23.20.

Analyst Ratings Changes

ATRC has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 price target on shares of AtriCure in a research report on Wednesday, April 10th. StockNews.com downgraded AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Oppenheimer upgraded AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Tuesday. UBS Group boosted their price objective on AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus dropped their target price on AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.63.

AtriCure Trading Up 2.0 %

The firm has a market cap of $1.12 billion, a P/E ratio of -35.11 and a beta of 1.38. The company has a 50 day moving average of $30.44 and a 200 day moving average of $33.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The firm had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $103.68 million. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The company’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Analysts predict that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the sale, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the sale, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $30.39, for a total value of $45,585.00. Following the sale, the insider now directly owns 72,784 shares of the company’s stock, valued at approximately $2,211,905.76. The disclosure for this sale can be found here. Insiders sold 13,116 shares of company stock valued at $468,797 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC raised its stake in shares of AtriCure by 165.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock valued at $4,409,000 after purchasing an additional 77,055 shares in the last quarter. CenterBook Partners LP acquired a new position in shares of AtriCure in the third quarter valued at $770,000. Decheng Capital Management III Cayman LLC acquired a new position in AtriCure during the third quarter worth $2,026,000. Envestnet Asset Management Inc. lifted its holdings in shares of AtriCure by 127.9% during the third quarter. Envestnet Asset Management Inc. now owns 116,990 shares of the medical device company’s stock valued at $5,124,000 after acquiring an additional 65,653 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of AtriCure by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,689,883 shares of the medical device company’s stock valued at $205,417,000 after acquiring an additional 43,431 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

About AtriCure

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.