AtriCure, Inc. (NASDAQ:ATRC – Get Free Report)’s share price traded down 2.9% on Thursday after Needham & Company LLC lowered their price target on the stock from $49.00 to $44.00. Needham & Company LLC currently has a buy rating on the stock. AtriCure traded as low as $32.68 and last traded at $32.72. 33,351 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 339,086 shares. The stock had previously closed at $33.70.
Several other research analysts have also commented on ATRC. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a research report on Wednesday, November 29th. JPMorgan Chase & Co. cut their price objective on shares of AtriCure from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. UBS Group began coverage on shares of AtriCure in a report on Friday, September 29th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.50.
Insider Activity
In other news, insider Karl S. Dahlquist sold 1,248 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $34.43, for a total transaction of $42,968.64. Following the sale, the insider now directly owns 30,789 shares of the company’s stock, valued at $1,060,065.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% 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 the business. Harbor Capital Advisors Inc. acquired a new position in shares of AtriCure in the second quarter worth about $881,000. Vanguard Personalized Indexing Management LLC grew its stake in AtriCure by 7.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,307 shares of the medical device company’s stock valued at $311,000 after acquiring an additional 418 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in AtriCure during the 2nd quarter valued at about $4,106,000. Numerai GP LLC purchased a new stake in AtriCure during the 1st quarter valued at about $1,530,000. Finally, Assenagon Asset Management S.A. grew its stake in AtriCure by 80.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 411,337 shares of the medical device company’s stock valued at $20,304,000 after acquiring an additional 183,824 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.
AtriCure Stock Performance
The company has a market cap of $1.55 billion, a PE ratio of -62.41 and a beta of 1.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.31 and a current ratio of 3.06. The firm’s 50 day moving average is $36.80 and its 200-day moving average is $43.24.
AtriCure (NASDAQ:ATRC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.10. AtriCure had a negative net margin of 6.52% and a negative return on equity of 6.37%. The company had revenue of $98.29 million during the quarter, compared to analysts’ expectations of $96.65 million. During the same quarter in the prior year, the company earned ($0.27) EPS. AtriCure’s revenue was up 18.1% compared to the same quarter last year. On average, research analysts anticipate that AtriCure, Inc. will post -0.76 earnings per share for the current fiscal year.
About AtriCure
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.