AtriCure (NASDAQ:ATRC) Trading 6.7% Higher – Here’s Why

AtriCure, Inc. (NASDAQ:ATRC) shot up 6.7% during trading on Thursday . The company traded as high as $38.48 and last traded at $39.8890. 50,446 shares changed hands during trading, a decline of 90% from the average session volume of 497,153 shares. The stock had previously closed at $37.37.

Analysts Set New Price Targets

ATRC has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, October 8th. Citigroup restated a “market outperform” rating on shares of AtriCure in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on AtriCure from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Canaccord Genuity Group boosted their price target on AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Zacks Research raised shares of AtriCure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.44.

AtriCure Stock Up 11.0%

The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -67.55 and a beta of 1.40. The company has a current ratio of 3.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $37.92 and a 200-day moving average of $35.86.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. The company had revenue of $134.27 million during the quarter, compared to analyst estimates of $131.25 million. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.54%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, sell-side analysts expect that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Buying and Selling at AtriCure

In related news, Director Maggie Yuen sold 3,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $35.72, for a total value of $107,160.00. Following the transaction, the director owned 11,371 shares in the company, valued at approximately $406,172.12. This represents a 20.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sven Wehrwein sold 5,033 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $37.32, for a total transaction of $187,831.56. Following the transaction, the director owned 34,374 shares in the company, valued at approximately $1,282,837.68. This trade represents a 12.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,166 shares of company stock worth $676,378. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATRC. AQR Capital Management LLC lifted its holdings in AtriCure by 1.0% in the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock worth $2,700,000 after purchasing an additional 837 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 buying an additional 1,230 shares during the period. Goldman Sachs Group Inc. grew its stake in 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 buying an additional 8,956 shares during the last quarter. Jane Street Group LLC grew its stake in 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 buying an additional 87,553 shares during the last quarter. Finally, Strs Ohio bought a new position in AtriCure in the 1st quarter worth $158,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Company Profile

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.