AtriCure, Inc. (ATRC) Shares Down NaN Following Analyst Downgrade
AtriCure, Inc. (NASDAQ:ATRC)’s share price traded down NaN during trading on Thursday after Canaccord Genuity lowered their price target on the stock from $28.00 to $24.00. Canaccord Genuity currently has a buy rating on the stock. AtriCure traded as low as $17.05 and last traded at $0.00. 563,033 shares traded hands during mid-day trading, an increase of Infinity from the average session volume of 0 shares.
Several other equities analysts also recently commented on ATRC. Needham & Company LLC decreased their target price on AtriCure from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday. Zacks Investment Research downgraded AtriCure from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. BidaskClub downgraded AtriCure from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $25.00 target price on shares of AtriCure in a research report on Sunday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. AtriCure currently has an average rating of “Buy” and a consensus price target of $25.00.
In related news, Director Elizabeth D. Krell sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $22.40, for a total transaction of $224,000.00. Following the sale, the director now owns 29,967 shares of the company’s stock, valued at $671,260.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.00% of the company’s stock.
Several hedge funds have recently modified their holdings of ATRC. Neuberger Berman Group LLC boosted its holdings in shares of AtriCure by 45.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 824,469 shares of the medical device company’s stock valued at $19,993,000 after purchasing an additional 257,949 shares in the last quarter. FMR LLC boosted its holdings in shares of AtriCure by 2.4% in the 2nd quarter. FMR LLC now owns 5,068,247 shares of the medical device company’s stock valued at $122,905,000 after purchasing an additional 118,247 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AtriCure by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 1,393,971 shares of the medical device company’s stock valued at $26,695,000 after purchasing an additional 75,266 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of AtriCure in the 2nd quarter valued at $1,120,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of AtriCure by 24.2% in the 1st quarter. Bank of New York Mellon Corp now owns 179,586 shares of the medical device company’s stock valued at $3,439,000 after purchasing an additional 35,013 shares in the last quarter. 82.19% of the stock is currently owned by hedge funds and other institutional investors.
AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. AtriCure had a negative net margin of 19.56% and a negative return on equity of 19.56%. The business had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $43.44 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year.
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AtriCure Company Profile
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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