AtriCure (NASDAQ:ATRC) Sets New 1-Year Low at $22.42

Shares of AtriCure, Inc. (NASDAQ:ATRC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $22.42 and last traded at $22.54, with a volume of 23361 shares trading hands. The stock had previously closed at $22.90.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ATRC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of AtriCure in a report on Wednesday, April 10th. Stifel Nicolaus cut their price target on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 16th. UBS Group lifted their price target on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.57.

AtriCure Stock Up 1.5 %

The stock has a market capitalization of $1.13 billion, a PE ratio of -36.23 and a beta of 1.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66. The business’s fifty day moving average price is $31.40 and its two-hundred day moving average price is $34.58.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. On average, equities research analysts forecast that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

Insider Activity at AtriCure

In related news, insider Karl S. Dahlquist sold 8,231 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 52,839 shares in the company, valued at $1,974,065.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the transaction, the insider now directly owns 72,784 shares in the company, valued at $2,211,905.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karl S. Dahlquist sold 8,231 shares of the business’s stock in a transaction 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 transaction, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The disclosure for this sale can be found here. Insiders sold 13,116 shares of company stock worth $468,797 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Los Angeles Capital Management LLC acquired a new position in shares of AtriCure in the first quarter worth about $842,000. Vanguard Group Inc. raised its position in shares of AtriCure by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock worth $170,100,000 after acquiring an additional 76,146 shares during the period. Wellington Management Group LLP raised its position in shares of AtriCure by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock worth $47,448,000 after acquiring an additional 95,824 shares during the period. Goldman Sachs Group Inc. raised its position in shares of AtriCure by 46.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 355,601 shares of the medical device company’s stock worth $12,691,000 after acquiring an additional 113,543 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of AtriCure in the fourth quarter worth about $213,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Company Profile

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.