AtriCure (NASDAQ:ATRC) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.90 and traded as high as $33.17. AtriCure shares last traded at $32.80, with a volume of 714,721 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on ATRC. Canaccord Genuity Group boosted their price objective on AtriCure from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Zacks Research downgraded shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Freedom Capital upgraded AtriCure to a “strong-buy” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.71.

AtriCure Price Performance

The company’s 50-day simple moving average is $28.52 and its 200 day simple moving average is $31.81. The company has a market capitalization of $1.75 billion, a P/E ratio of -345.60 and a beta of 1.24. The company has a quick ratio of 3.18, a current ratio of 4.29 and a debt-to-equity ratio of 0.15.

Insider Transactions at AtriCure

In other AtriCure news, Director Karen Prange sold 3,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the transaction, the director directly owned 26,373 shares of the company’s stock, valued at $755,586.45. This represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of AtriCure

Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. acquired a new stake in AtriCure in the 2nd quarter worth approximately $37,000. Harbor Investment Advisory LLC acquired a new position in AtriCure during the second quarter valued at approximately $40,000. Smartleaf Asset Management LLC raised its position in shares of AtriCure by 59.8% in the fourth 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 period. Fifth Third Bancorp bought a new position in shares of AtriCure in the first quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of AtriCure in the fourth quarter worth $73,000. Institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

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.