AtriCure (NASDAQ:ATRC) Trading Down 4.7% Following Insider Selling

AtriCure, Inc. (NASDAQ:ATRC)’s share price fell 4.7% on Wednesday after an insider sold shares in the company. The stock traded as low as $36.81 and last traded at $36.6690. 102,756 shares traded hands during trading, a decline of 81% from the average session volume of 549,538 shares. The stock had previously closed at $38.48.

Specifically, insider Justin J. Noznesky sold 5,166 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total value of $192,640.14. Following the sale, the insider owned 78,798 shares of the company’s stock, valued at approximately $2,938,377.42. This represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sven Wehrwein sold 4,967 shares of AtriCure stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $38.00, for a total transaction of $188,746.00. Following the transaction, the director directly owned 34,374 shares of the company’s stock, valued at $1,306,212. This represents a 12.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other AtriCure news, Director Sven Wehrwein sold 5,033 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $37.32, for a total transaction of $187,831.56. Following the sale, the director directly owned 34,374 shares of the company’s stock, valued at approximately $1,282,837.68. This represents a 12.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. BTIG Research set a $54.00 price objective on AtriCure in a research report on Wednesday, July 30th. Wall Street Zen raised AtriCure from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Needham & Company LLC raised their target price on AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and an average target price of $52.22.

AtriCure Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 3.94. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -59.06 and a beta of 1.56. The firm’s 50-day moving average price is $35.14 and its 200 day moving average price is $34.22.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.56%. The business had revenue of $134.27 million for the quarter, compared to analyst estimates of $131.25 million. During the same period in the prior year, the business posted ($0.17) earnings per share. AtriCure’s revenue was up 15.8% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. On average, sell-side analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ATRC. Ameritas Investment Partners Inc. increased its holdings in AtriCure by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,941 shares of the medical device company’s stock valued at $162,000 after purchasing an additional 312 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of AtriCure by 6.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the medical device company’s stock worth $218,000 after buying an additional 380 shares during the period. Teacher Retirement System of Texas increased its stake in shares of AtriCure by 5.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,512 shares of the medical device company’s stock valued at $246,000 after acquiring an additional 385 shares during the last quarter. Scotia Capital Inc. raised its position in shares of AtriCure by 1.2% in the 3rd quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company’s stock valued at $1,328,000 after acquiring an additional 457 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its stake in AtriCure by 197.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after acquiring an additional 538 shares during the last quarter. 99.11% of the stock is currently owned by 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.