AtriCure (NASDAQ:ATRC) Stock Price Up 3.2%

AtriCure, Inc. (NASDAQ:ATRC) traded up 3.2% on Thursday . The stock traded as high as $24.87 and last traded at $24.75. 117,480 shares were traded during mid-day trading, a decline of 85% from the average session volume of 776,701 shares. The stock had previously closed at $23.99.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. BTIG Research dropped their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Canaccord Genuity Group dropped their price target on AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus dropped their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.44.

AtriCure Stock Performance

The firm has a market capitalization of $1.15 billion, a PE ratio of -29.99 and a beta of 1.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.83. The stock has a 50-day moving average price of $22.61 and a 200-day moving average price of $25.81.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The business had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, research analysts expect that AtriCure, Inc. will post -0.77 EPS for the current fiscal year.

Insider Activity at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the sale, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Salvatore Privitera bought 5,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $22.25 per share, with a total value of $111,250.00. Following the completion of the acquisition, the insider now owns 103,290 shares of the company’s stock, valued at $2,298,202.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Maggie Yuen sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AtriCure

Several institutional investors have recently made changes to their positions in ATRC. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of AtriCure by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company’s stock valued at $758,000 after purchasing an additional 484 shares during the last quarter. Mackenzie Financial Corp grew its holdings in AtriCure by 14.7% in the 4th quarter. Mackenzie Financial Corp now owns 12,295 shares of the medical device company’s stock worth $439,000 after buying an additional 1,575 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in AtriCure by 27.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,524 shares of the medical device company’s stock worth $447,000 after buying an additional 2,670 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in AtriCure by 14.5% in the 4th quarter. Handelsbanken Fonder AB now owns 13,400 shares of the medical device company’s stock worth $478,000 after buying an additional 1,700 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in AtriCure by 13.3% in the 4th quarter. New York State Common Retirement Fund now owns 257,901 shares of the medical device company’s stock worth $9,204,000 after buying an additional 30,280 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

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.