AtriCure (NASDAQ:ATRC) Stock Price Down 7.6% – What’s Next?

Shares of AtriCure, Inc. (NASDAQ:ATRC) dropped 7.6% on Monday . The stock traded as low as $37.91 and last traded at $38.2950. Approximately 83,617 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 399,969 shares. The stock had previously closed at $41.46.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ATRC. Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. Zacks Research upgraded shares of AtriCure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Canaccord Genuity Group increased their price objective 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AtriCure has an average rating of “Moderate Buy” and a consensus price target of $52.44.

AtriCure Price Performance

The company has a market cap of $1.87 billion, a PE ratio of -61.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.85. The stock’s 50-day moving average is $37.67 and its 200 day moving average is $35.78.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. AtriCure had a negative return on equity of 2.54% and a negative net margin of 5.55%.The business had revenue of $134.27 million for the quarter, compared to the consensus estimate of $131.25 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The business’s quarterly 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, equities analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In other news, insider Justin J. Noznesky sold 5,166 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total transaction of $192,640.14. Following the transaction, the insider owned 78,798 shares in the company, valued at $2,938,377.42. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Maggie Yuen sold 3,000 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $35.72, for a total transaction of $107,160.00. Following the completion of the transaction, the director directly owned 11,371 shares of the company’s stock, valued at $406,172.12. The trade was a 20.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,166 shares of company stock valued at $676,378 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ATRC. Aster Capital Management DIFC Ltd increased its holdings in shares of AtriCure by 197.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 538 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of AtriCure by 1,818.6% during the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after purchasing an additional 1,073 shares during the period. Geneos Wealth Management Inc. purchased a new stake in AtriCure in the second quarter valued at approximately $37,000. First Horizon Corp acquired a new position in AtriCure in the 3rd quarter worth approximately $42,000. Finally, CWM LLC raised its position in AtriCure by 36.6% during the 3rd quarter. CWM LLC now owns 2,587 shares of the medical device company’s stock worth $91,000 after buying an additional 693 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

About AtriCure

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.