AtriCure (NASDAQ:ATRC) Shares Up 6.7%

Shares of AtriCure, Inc. (NASDAQ:ATRC) were up 6.7% on Monday . The stock traded as high as $22.52 and last traded at $22.28. Approximately 369,872 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 709,101 shares. The stock had previously closed at $20.89.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ATRC shares. Needham & Company LLC decreased their price objective on AtriCure from $46.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Oppenheimer upgraded AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a report on Tuesday, April 23rd. Stifel Nicolaus reduced their price target on AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. cut their target price on AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, StockNews.com lowered AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AtriCure currently has an average rating of “Moderate Buy” and a consensus target price of $49.78.

AtriCure Price Performance

The firm has a market capitalization of $984.60 million, a PE ratio of -25.86 and a beta of 1.41. The stock has a 50-day moving average price of $28.08 and a 200 day moving average price of $32.82. The company has a quick ratio of 2.83, a current ratio of 4.00 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The business had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $106.86 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.85%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.23) earnings per share. Equities analysts forecast that AtriCure, Inc. will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the sale, the insider now owns 74,284 shares in the company, valued at approximately $2,727,708.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the transaction, the insider now directly owns 74,284 shares in the company, valued at approximately $2,727,708.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl S. Dahlquist sold 8,231 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the sale, the insider now directly owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,616 shares of company stock worth $504,932. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AtriCure

A number of hedge funds have recently modified their holdings of ATRC. RiverPark Advisors LLC purchased a new stake in shares of AtriCure in the 3rd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its position in AtriCure by 31.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock valued at $91,000 after purchasing an additional 497 shares during the period. Quest Partners LLC acquired a new stake in shares of AtriCure in the fourth quarter valued at $103,000. Virtu Financial LLC purchased a new stake in shares of AtriCure in the 4th quarter valued at $213,000. Finally, Victory Capital Management Inc. lifted its stake in AtriCure by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after acquiring an additional 1,155 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.