AtriCure (NASDAQ:ATRC) Hits New 52-Week Low at $22.36

AtriCure, Inc. (NASDAQ:ATRC) reached a new 52-week low during trading on Monday . The stock traded as low as $22.36 and last traded at $22.40, with a volume of 211706 shares trading hands. The stock had previously closed at $23.20.

Analyst Upgrades and Downgrades

ATRC has been the subject of several recent research reports. StockNews.com downgraded AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Oppenheimer upgraded AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $46.00 price objective on shares of AtriCure in a research report on Wednesday, April 10th. UBS Group upped their price objective on AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus reduced their target price on AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, AtriCure has an average rating of “Moderate Buy” and an average price target of $52.63.

AtriCure Trading Up 2.0 %

The company has a 50 day moving average of $30.44 and a 200 day moving average of $33.92. 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 $1.12 billion, a price-to-earnings ratio of -35.11 and a beta of 1.38.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $106.50 million during the quarter, compared to the consensus estimate of $103.68 million. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the company earned ($0.09) EPS. On average, research analysts predict that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

Insider Transactions at AtriCure

In other news, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the transaction, the insider now directly owns 72,784 shares in the company, valued at approximately $2,211,905.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the transaction, the insider now directly owns 72,784 shares in the company, valued at approximately $2,211,905.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karl S. Dahlquist sold 8,231 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the transaction, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,116 shares of company stock worth $468,797. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AtriCure

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in AtriCure by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after purchasing an additional 76,146 shares in the last quarter. Wellington Management Group LLP raised its position in shares of AtriCure by 7.8% during the 4th quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock worth $47,448,000 after acquiring an additional 95,824 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in AtriCure by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,001,161 shares of the medical device company’s stock worth $35,734,000 after purchasing an additional 9,176 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in AtriCure by 7.9% during the fourth quarter. TimesSquare Capital Management LLC now owns 976,110 shares of the medical device company’s stock worth $34,837,000 after purchasing an additional 71,275 shares during the last quarter. Finally, Fiera Capital Corp lifted its stake in AtriCure by 28.2% during the fourth quarter. Fiera Capital Corp now owns 881,826 shares of the medical device company’s stock worth $31,472,000 after purchasing an additional 193,769 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.