AtriCure (NASDAQ:ATRC) Trading Down 2.8% After Insider Selling

AtriCure, Inc. (NASDAQ:ATRCGet Free Report)’s stock price dropped 2.8% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $26.21 and last traded at $26.44. Approximately 111,358 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 641,925 shares. The stock had previously closed at $27.21.

Specifically, insider Karl S. Dahlquist sold 8,231 shares of AtriCure stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the transaction, the insider now owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the transaction, the insider now directly owns 74,284 shares in the company, valued at $2,727,708.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the transaction, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,116 shares of company stock worth $468,797. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ATRC. Needham & Company LLC upped their price objective on shares of AtriCure from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus lowered their target price on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. UBS Group increased their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.57.

Check Out Our Latest Stock Analysis on AtriCure

AtriCure Price Performance

The company has a market capitalization of $1.27 billion, a PE ratio of -41.23 and a beta of 1.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66. The company’s 50 day simple moving average is $33.02 and its 200 day simple moving average is $35.79.

AtriCure (NASDAQ:ATRCGet Free Report) last announced its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. The company had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share. As a group, sell-side analysts predict that AtriCure, Inc. will post -0.71 earnings per share for the current year.

Hedge Funds Weigh In On AtriCure

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Snowden Capital Advisors LLC lifted its holdings in AtriCure by 3.5% in the first quarter. Snowden Capital Advisors LLC now owns 7,400 shares of the medical device company’s stock valued at $307,000 after acquiring an additional 250 shares during the period. State of Wyoming raised its stake in shares of AtriCure by 34.6% during the 2nd quarter. State of Wyoming now owns 1,030 shares of the medical device company’s stock worth $51,000 after buying an additional 265 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of AtriCure by 4.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,791 shares of the medical device company’s stock worth $335,000 after buying an additional 286 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of AtriCure by 8.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,847 shares of the medical device company’s stock worth $190,000 after buying an additional 290 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of AtriCure by 15.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,444 shares of the medical device company’s stock worth $108,000 after buying an additional 319 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Company Profile

(Get Free Report)

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.

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