AtriCure (NASDAQ:ATRC) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of AtriCure, Inc. (NASDAQ:ATRC) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $33.45 and traded as high as $35.43. AtriCure shares last traded at $35.20, with a volume of 258,534 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ATRC. Needham & Company LLC upped their target price on AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. BTIG Research set a $54.00 price objective on AtriCure in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded AtriCure from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $50.89.

AtriCure Trading Up 0.5%

The firm has a market cap of $1.75 billion, a PE ratio of -45.71 and a beta of 1.62. The firm has a 50 day moving average of $35.35 and a 200 day moving average of $33.45. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.13. The firm had revenue of $136.14 million for the quarter, compared to the consensus estimate of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390–0.340 EPS. Equities analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insider Buying and Selling

In other AtriCure news, insider Justin J. Noznesky sold 3,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.30, for a total transaction of $108,900.00. Following the sale, the insider owned 83,964 shares in the company, valued at $3,047,893.20. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Regina E. Groves sold 2,452 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total value of $90,282.64. Following the sale, the director owned 33,715 shares in the company, valued at approximately $1,241,386.30. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,952 shares of company stock worth $655,633. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several institutional investors have recently made changes to their positions in ATRC. Acadian Asset Management LLC raised its position in shares of AtriCure by 2,690.0% in the first quarter. Acadian Asset Management LLC now owns 195,582 shares of the medical device company’s stock worth $6,304,000 after buying an additional 188,572 shares in the last quarter. First Bank & Trust purchased a new stake in shares of AtriCure in the second quarter worth $273,000. Ameriprise Financial Inc. purchased a new stake in shares of AtriCure in the fourth quarter worth $295,000. Envestnet Asset Management Inc. raised its position in shares of AtriCure by 22.9% in the first quarter. Envestnet Asset Management Inc. now owns 56,656 shares of the medical device company’s stock worth $1,828,000 after buying an additional 10,570 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of AtriCure by 5.0% in the first quarter. Assenagon Asset Management S.A. now owns 146,096 shares of the medical device company’s stock worth $4,713,000 after buying an additional 6,995 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.