Vinayak Doraiswamy Sells 5,000 Shares of AtriCure (NASDAQ:ATRC) Stock

AtriCure, Inc. (NASDAQ:ATRC) insider Vinayak Doraiswamy sold 5,000 shares of AtriCure stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the transaction, the insider directly owned 96,875 shares in the company, valued at approximately $2,889,781.25. The trade was a 4.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

AtriCure Stock Down 2.8%

AtriCure stock opened at $29.58 on Wednesday. The company has a 50 day moving average of $34.81 and a 200-day moving average of $36.00. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13. AtriCure, Inc. has a twelve month low of $28.29 and a twelve month high of $43.18. The stock has a market capitalization of $1.47 billion, a PE ratio of -123.25 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $140.50 million. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) EPS. On average, equities research analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Trading of AtriCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in AtriCure by 1.0% in the first quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock valued at $2,700,000 after acquiring an additional 837 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AtriCure by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock worth $908,000 after purchasing an additional 1,230 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of AtriCure by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock valued at $27,830,000 after purchasing an additional 8,956 shares during the period. Jane Street Group LLC raised its holdings in shares of AtriCure by 658.3% in the 1st quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock valued at $3,254,000 after purchasing an additional 87,553 shares during the period. Finally, Strs Ohio acquired a new stake in AtriCure in the 1st quarter valued at about $158,000. 99.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on ATRC shares. JPMorgan Chase & Co. cut AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Wednesday, February 11th. BTIG Research reissued a “buy” rating and issued a $54.00 target price on shares of AtriCure in a research report on Wednesday, February 18th. Citizens Jmp cut their target price on AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a research note on Wednesday, February 18th. Citigroup reaffirmed an “outperform” rating on shares of AtriCure in a research report on Wednesday, February 18th. Finally, Wall Street Zen raised shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.43.

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.