AtriCure (NASDAQ:ATRC) Stock Price Passes Above 200-Day Moving Average – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.61 and traded as high as $38.12. AtriCure shares last traded at $38.07, with a volume of 798,428 shares.

Analyst Upgrades and Downgrades

ATRC has been the topic of several recent research reports. Zacks Research raised shares of AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. lifted their target price on shares of AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, January 21st. Citigroup restated a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group lifted their price objective on AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.44.

AtriCure Stock Performance

The stock’s 50-day moving average price is $39.27 and its 200-day moving average price is $36.61. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -62.41 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.85 and a current ratio of 3.87.

Insider Activity

In other news, insider Justin J. Noznesky sold 5,166 shares of AtriCure stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total transaction of $192,640.14. Following the completion of the transaction, the insider owned 78,798 shares of the company’s stock, valued at $2,938,377.42. The trade was a 6.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Maggie Yuen sold 3,000 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $35.72, for a total transaction of $107,160.00. Following the completion of the sale, the director directly owned 11,371 shares in the company, valued at approximately $406,172.12. The trade was a 20.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,166 shares of company stock worth $676,378 over the last 90 days. 3.50% 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. Aster Capital Management DIFC Ltd lifted its stake in AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after buying an additional 538 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of AtriCure in the second quarter worth $37,000. Farther Finance Advisors LLC raised its holdings in shares of AtriCure by 1,818.6% in the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after acquiring an additional 1,073 shares during the last quarter. First Horizon Corp purchased a new stake in shares of AtriCure in the third quarter valued at $42,000. Finally, Comerica Bank boosted its stake in shares of AtriCure by 121.1% during the fourth quarter. Comerica Bank now owns 2,213 shares of the medical device company’s stock valued at $88,000 after acquiring an additional 1,212 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.