AtriCure (NASDAQ:ATRC) Trading Down 6.6% – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC)’s stock price traded down 6.6% during trading on Monday . The company traded as low as $27.24 and last traded at $28.1760. 452,198 shares were traded during trading, a decline of 40% from the average daily volume of 757,332 shares. The stock had previously closed at $30.18.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings lowered shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Canaccord Genuity Group raised their price target on shares of AtriCure from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Freedom Capital raised AtriCure to a “strong-buy” rating in a report on Wednesday, April 1st. Finally, Zacks Research lowered AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.71.

AtriCure Price Performance

The company’s 50 day moving average price is $27.96 and its 200 day moving average price is $32.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.18 and a current ratio of 4.29. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -279.80 and a beta of 1.26.

Insider Buying and Selling

In other AtriCure news, Director Karen Prange sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the sale, the director directly owned 26,373 shares of the company’s stock, valued at approximately $755,586.45. This represents a 10.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ATRC. AQR Capital Management LLC grew its position in AtriCure by 1.0% during the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock worth $2,700,000 after acquiring an additional 837 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AtriCure by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock valued at $908,000 after purchasing an additional 1,230 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 purchasing an additional 8,956 shares during the last quarter. Jane Street Group LLC boosted its stake in AtriCure by 658.3% in the first quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock worth $3,254,000 after purchasing an additional 87,553 shares in the last quarter. Finally, Strs Ohio acquired a new position in AtriCure in the first quarter worth $158,000. Institutional investors own 99.11% of the company’s stock.

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.