AtriCure (NASDAQ:ATRC) Insider Vinayak Doraiswamy Sells 5,000 Shares

AtriCure, Inc. (NASDAQ:ATRC) insider Vinayak Doraiswamy sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the transaction, the insider owned 96,875 shares of the company’s stock, valued at approximately $2,889,781.25. The trade was a 4.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AtriCure Stock Up 2.0%

Shares of NASDAQ:ATRC opened at $30.44 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96. The company has a market cap of $1.52 billion, a PE ratio of -126.83 and a beta of 1.42. AtriCure, Inc. has a 52 week low of $28.29 and a 52 week high of $43.18. The firm has a 50 day simple moving average of $35.05 and a 200 day simple moving average of $36.05.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The firm had revenue of $140.50 million during the quarter, compared to analyst estimates of $140.50 million. During the same quarter last year, the business posted ($0.33) EPS. The company’s revenue was up 13.1% on a year-over-year basis. As a group, research analysts expect that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

ATRC has been the topic of several research analyst reports. Oppenheimer cut AtriCure from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Zacks Research cut shares of AtriCure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of AtriCure in a research report on Thursday, February 12th. Finally, Citizens Jmp dropped their price objective on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.43.

Institutional Trading of AtriCure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd boosted its position in shares of AtriCure by 197.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after acquiring an additional 538 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of AtriCure in the second quarter worth $37,000. Farther Finance Advisors LLC increased its position in AtriCure by 1,818.6% during the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after acquiring an additional 1,073 shares during the period. First Horizon Corp bought a new position in AtriCure during the third quarter worth $42,000. Finally, Smartleaf Asset Management LLC raised its stake in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after purchasing an additional 429 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.