Insider Selling: AtriCure (NASDAQ:ATRC) Director Sells 3,000 Shares of Stock

AtriCure, Inc. (NASDAQ:ATRC) Director Karen Prange sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the completion of the transaction, the director directly owned 26,373 shares in the company, valued at $755,586.45. This represents a 10.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

AtriCure Stock Performance

ATRC traded down $0.72 during trading on Friday, hitting $28.10. The stock had a trading volume of 74,747 shares, compared to its average volume of 716,395. The firm has a market capitalization of $1.42 billion, a P/E ratio of -280.90 and a beta of 1.28. AtriCure, Inc. has a twelve month low of $25.52 and a twelve month high of $43.18. The company’s 50-day moving average price is $28.65 and its 200 day moving average price is $33.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.18 and a current ratio of 4.29.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. The company had revenue of $140.50 million for the quarter, compared to analyst estimates of $140.50 million. AtriCure had a negative net margin of 0.83% and a positive return on equity of 0.29%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) EPS. On average, equities research analysts forecast that AtriCure, Inc. will post 0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BTIG Research restated a “buy” rating and set a $54.00 target price on shares of AtriCure in a research report on Wednesday, February 18th. Freedom Capital upgraded shares of AtriCure to a “strong-buy” rating in a research report on Wednesday, April 1st. Citigroup restated an “outperform” rating on shares of AtriCure in a research report on Wednesday, February 18th. Canaccord Genuity Group boosted their target price on shares of AtriCure from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of AtriCure in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

Institutional Investors Weigh In On AtriCure

Several institutional investors and hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd increased its stake in shares of AtriCure by 197.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after acquiring an additional 538 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in AtriCure during the 2nd quarter worth approximately $37,000. Smartleaf Asset Management LLC increased its position in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock worth $46,000 after purchasing an additional 429 shares in the last quarter. Fifth Third Bancorp acquired a new stake in AtriCure during the 1st quarter worth approximately $51,000. Finally, Global Retirement Partners LLC acquired a new stake in AtriCure during the 4th quarter worth approximately $73,000. 99.11% of the stock is currently 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.