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

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

Analyst Ratings Changes

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

AtriCure Price Performance

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

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. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The business had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. During the same period last year, the business earned ($0.09) EPS. The company’s revenue was up 21.0% on a year-over-year basis. Equities research analysts expect that AtriCure, Inc. will post -0.71 EPS for the current year.

Insider Activity

In related news, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $2,727,708.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $2,727,708.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Karl S. Dahlquist sold 8,231 shares of the 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 disclosure for this sale can be found here. In the last three months, insiders have sold 13,116 shares of company stock worth $468,797. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ATRC. Invesco Ltd. grew its position in shares of AtriCure by 17.5% in the 1st quarter. Invesco Ltd. now owns 2,865,409 shares of the medical device company’s stock valued at $188,171,000 after buying an additional 427,792 shares during the last quarter. First Light Asset Management LLC grew its position in AtriCure by 35.8% during the 1st quarter. First Light Asset Management LLC now owns 1,364,812 shares of the medical device company’s stock worth $89,627,000 after purchasing an additional 359,823 shares during the last quarter. Norges Bank purchased a new position in AtriCure during the 4th quarter worth $15,621,000. Nuveen Asset Management LLC grew its position in AtriCure by 41.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 981,165 shares of the medical device company’s stock worth $48,430,000 after purchasing an additional 286,481 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in AtriCure by 366.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 342,987 shares of the medical device company’s stock worth $16,930,000 after purchasing an additional 269,454 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.