AtriCure (NASDAQ:ATRC) Hits New 52-Week Low – Here’s What Happened

AtriCure, Inc. (NASDAQ:ATRC) shares reached a new 52-week low during trading on Monday . The stock traded as low as $28.18 and last traded at $28.5380, with a volume of 43613 shares traded. The stock had previously closed at $28.88.

Analyst Ratings Changes

ATRC has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research report on Wednesday, February 11th. Citizens Jmp dropped their target price on AtriCure from $60.00 to $52.00 and set a “market outperform” rating for the company in a report on Wednesday, February 18th. Zacks Research lowered AtriCure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Oppenheimer downgraded AtriCure from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Finally, Canaccord Genuity Group dropped their price objective on shares of AtriCure from $64.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.43.

AtriCure Trading Down 1.2%

The company’s 50 day simple moving average is $33.16 and its 200-day simple moving average is $35.64. The firm has a market cap of $1.42 billion, a P/E ratio of -118.96 and a beta of 1.42. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The firm had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $140.50 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, research analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the sale, the insider owned 96,875 shares in the company, valued at $2,889,781.25. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATRC. Vanguard Group Inc. increased its stake in AtriCure by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,903,755 shares of the medical device company’s stock worth $193,993,000 after buying an additional 62,861 shares during the period. Wellington Management Group LLP boosted its position in AtriCure by 8.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock valued at $151,296,000 after buying an additional 322,818 shares during the period. Hood River Capital Management LLC grew its stake in AtriCure by 2.1% in the 2nd quarter. Hood River Capital Management LLC now owns 3,061,059 shares of the medical device company’s stock worth $100,311,000 after acquiring an additional 61,852 shares in the last quarter. Neuberger Berman Group LLC grew its stake in AtriCure by 0.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,189,739 shares of the medical device company’s stock worth $38,969,000 after acquiring an additional 3,674 shares in the last quarter. Finally, First Light Asset Management LLC increased its position in shares of AtriCure by 32.0% during the fourth quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock worth $46,501,000 after acquiring an additional 285,083 shares during the period. 99.11% of the stock is currently owned by institutional investors.

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.