AtriCure (NASDAQ:ATRC) Shares Down 5%

AtriCure, Inc. (NASDAQ:ATRCGet Free Report)’s stock price fell 5% during trading on Friday . The company traded as low as $22.57 and last traded at $22.57. 266,824 shares traded hands during trading, a decline of 63% from the average session volume of 717,732 shares. The stock had previously closed at $23.76.

Analyst Ratings Changes

A number of brokerages recently commented on ATRC. Needham & Company LLC dropped their price objective on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Canaccord Genuity Group dropped their price objective on shares of AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Oppenheimer upgraded shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat.com, AtriCure presently has a consensus rating of “Moderate Buy” and an average price target of $49.78.

View Our Latest Research Report on AtriCure

AtriCure Trading Down 4.1 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.83. The firm’s 50 day simple moving average is $22.45 and its 200-day simple moving average is $29.51.

AtriCure (NASDAQ:ATRCGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $108.90 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. Research analysts expect that AtriCure, Inc. will post -0.75 EPS for the current year.

Insider Transactions at AtriCure

In other news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total transaction of $36,135.00. Following the transaction, the insider now directly owns 71,284 shares in the company, valued at approximately $1,717,231.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total transaction of $36,135.00. Following the transaction, the insider now directly owns 71,284 shares in the company, valued at approximately $1,717,231.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Salvatore Privitera acquired 5,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $22.25 per share, for a total transaction of $111,250.00. Following the completion of the purchase, the insider now directly owns 103,290 shares in the company, valued at $2,298,202.50. The disclosure for this purchase can be found here. 3.20% of the stock is owned by company insiders.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of AtriCure by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock worth $170,100,000 after buying an additional 76,146 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of AtriCure by 27.3% during the 1st quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock worth $81,556,000 after buying an additional 575,605 shares during the period. First Light Asset Management LLC boosted its holdings in shares of AtriCure by 2.5% during the 1st quarter. First Light Asset Management LLC now owns 1,382,860 shares of the medical device company’s stock worth $42,067,000 after buying an additional 33,417 shares during the period. Wellington Management Group LLP boosted its holdings 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 buying an additional 95,824 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of AtriCure by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,001,161 shares of the medical device company’s stock worth $35,734,000 after buying an additional 9,176 shares during the period. Institutional investors own 99.11% of the company’s stock.

About AtriCure

(Get Free Report)

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.

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