AtriCure (NASDAQ:ATRC) Stock Price Up 6.7%

AtriCure, Inc. (NASDAQ:ATRC) shares traded up 6.7% during mid-day trading on Monday . The company traded as high as $22.52 and last traded at $22.28. 369,872 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 709,101 shares. The stock had previously closed at $20.89.

Analysts Set New Price Targets

A number of analysts have weighed in on ATRC shares. Oppenheimer raised shares of 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, April 23rd. StockNews.com cut shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Canaccord Genuity Group dropped their price objective on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group boosted their target price on AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Needham & Company LLC cut their price target on AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.78.

AtriCure Price Performance

The company has a 50 day moving average price of $28.81 and a 200 day moving average price of $33.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.83. The firm has a market cap of $1.05 billion, a PE ratio of -27.76 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $106.86 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.85%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.23) EPS. Sell-side analysts expect that AtriCure, Inc. will post -0.75 EPS for the current fiscal year.

Insider Transactions at AtriCure

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total transaction of $36,135.00. Following the sale, the insider now directly owns 71,284 shares in the company, valued at approximately $1,717,231.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AtriCure news, insider Karl S. Dahlquist sold 1,885 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total value of $60,621.60. Following the sale, the insider now owns 50,954 shares of the company’s stock, valued at $1,638,680.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total value of $36,135.00. Following the completion of the transaction, the insider now owns 71,284 shares of the company’s stock, valued at approximately $1,717,231.56. The disclosure for this sale can be found here. In the last three months, insiders sold 14,616 shares of company stock valued at $504,932. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its stake in shares of AtriCure by 65.7% during the first quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock valued at $1,089,000 after acquiring an additional 14,194 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of AtriCure during the first quarter valued at approximately $258,000. Norden Group LLC acquired a new stake in AtriCure during the first quarter worth approximately $440,000. WCM Investment Management LLC grew its stake in AtriCure by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 222,843 shares of the medical device company’s stock worth $6,779,000 after acquiring an additional 1,427 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in AtriCure by 71.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 444,801 shares of the medical device company’s stock valued at $13,531,000 after acquiring an additional 185,632 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Company Profile

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.