AtriCure (NASDAQ:ATRC) Trading 3.2% Higher

AtriCure, Inc. (NASDAQ:ATRC)’s share price traded up 3.2% on Wednesday . The company traded as high as $23.95 and last traded at $23.84. 145,235 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 668,463 shares. The stock had previously closed at $23.10.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. UBS Group raised their target price on shares of AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, February 16th. StockNews.com cut shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Stifel Nicolaus cut their target price on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $46.00 target price on shares of AtriCure in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.57.

AtriCure Trading Up 3.5 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57. The stock has a market capitalization of $1.16 billion, a P/E ratio of -35.61 and a beta of 1.38. The firm’s fifty day simple moving average is $31.40 and its 200 day simple moving average is $34.58.

AtriCure (NASDAQ:ATRC) last released its earnings results on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. During the same period last year, the firm earned ($0.09) EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, equities research analysts forecast that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

Insider Activity at AtriCure

In related news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the sale, the insider now directly owns 74,284 shares of the company’s stock, valued at approximately $2,727,708.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Karl S. Dahlquist sold 1,885 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $32.16, for a total value of $60,621.60. Following the transaction, the insider now owns 50,954 shares in the company, valued at approximately $1,638,680.64. The sale 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 business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the transaction, the insider now owns 74,284 shares in the company, valued at approximately $2,727,708.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,116 shares of company stock valued at $468,797. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. RiverPark Advisors LLC acquired a new position in shares of AtriCure during the 3rd quarter valued at $27,000. Virtus Fund Advisers LLC bought a new stake in shares of AtriCure in the 4th quarter worth $27,000. Arcadia Investment Management Corp MI bought a new stake in shares of AtriCure in the 3rd quarter worth $28,000. KBC Group NV bought a new stake in shares of AtriCure in the 4th quarter worth $41,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of AtriCure in the 3rd quarter worth $43,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.