AtriCure (NASDAQ:ATRC) Stock Price Down 5.5% After Insider Selling

Shares of AtriCure, Inc. (NASDAQ:ATRC) traded down 5.5% during trading on Friday following insider selling activity. The stock traded as low as $20.78 and last traded at $20.99. 552,345 shares changed hands during trading, a decline of 22% from the average session volume of 708,007 shares. The stock had previously closed at $22.22.

Specifically, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other AtriCure news, insider Karl S. Dahlquist sold 1,885 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $32.16, for a total value of $60,621.60. Following the completion of the sale, the insider now directly owns 50,954 shares of the company’s stock, valued at approximately $1,638,680.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Karl S. Dahlquist sold 8,231 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was 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 in the company, valued at approximately $1,974,065.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,616 shares of company stock valued at $504,932. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Needham & Company LLC reduced their price target on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday. Oppenheimer raised shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a report on Tuesday, April 23rd. Stifel Nicolaus reduced their price objective on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. JPMorgan Chase & Co. cut their price target on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group cut their target price on AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.78.

AtriCure Trading Down 6.0 %

The company has a 50 day simple moving average of $29.07 and a two-hundred day simple moving average of $33.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57.

AtriCure (NASDAQ:ATRC) last released its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $106.86 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.82%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.23) EPS. As a group, analysts predict that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP lifted its holdings in shares of AtriCure by 65.7% in the first quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock valued at $1,089,000 after buying an additional 14,194 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of AtriCure during the first quarter worth $258,000. Norden Group LLC bought a new position in AtriCure in the first quarter valued at approximately $440,000. WCM Investment Management LLC increased its stake in AtriCure by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 222,843 shares of the medical device company’s stock worth $6,779,000 after purchasing an additional 1,427 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in AtriCure by 71.6% during the first quarter. Assenagon Asset Management S.A. now owns 444,801 shares of the medical device company’s stock worth $13,531,000 after acquiring an additional 185,632 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Company Profile

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.