AtriCure (NASDAQ:ATRC) Sets New 52-Week High – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $43.18 and last traded at $42.9330, with a volume of 145878 shares changing hands. The stock had previously closed at $41.77.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ATRC shares. Zacks Research raised AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Canaccord Genuity Group increased their target price on shares of AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on shares of AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

AtriCure Stock Performance

The company has a current ratio of 3.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.06 billion, a PE ratio of -67.97 and a beta of 1.40. The firm’s 50-day simple moving average is $37.67 and its 200-day simple moving average is $35.74.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.54%. The firm had revenue of $134.27 million during the quarter, compared to the consensus estimate of $131.25 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. On average, research analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In other AtriCure news, insider Justin J. Noznesky sold 5,166 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total value of $192,640.14. Following the completion of the sale, the insider directly owned 78,798 shares in the company, valued at approximately $2,938,377.42. This represents a 6.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maggie Yuen sold 3,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $35.72, for a total value of $107,160.00. Following the transaction, the director owned 11,371 shares in the company, valued at approximately $406,172.12. This represents a 20.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,166 shares of company stock worth $676,378. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AtriCure

Hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in AtriCure by 170.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company’s stock worth $70,872,000 after buying an additional 1,385,544 shares during the period. Wellington Management Group LLP lifted its stake in shares of AtriCure by 8.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock worth $151,296,000 after purchasing an additional 322,818 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of AtriCure during the 1st quarter worth $9,536,000. Millennium Management LLC boosted its position in AtriCure by 79.2% during the first quarter. Millennium Management LLC now owns 623,323 shares of the medical device company’s stock valued at $20,108,000 after purchasing an additional 275,487 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its position in AtriCure by 36.2% during the third quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock valued at $29,501,000 after purchasing an additional 222,529 shares in the last quarter. Hedge funds and other 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.