AtriCure (NASDAQ:ATRC) Shares Up 6.7% – Time to Buy?

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

Analyst Ratings Changes

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

AtriCure Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.85 and a current ratio of 3.87. The business has a 50-day simple moving average of $38.25 and a 200 day simple moving average of $35.94. The firm has a market cap of $1.94 billion, a P/E ratio of -64.03 and a beta of 1.40.

AtriCure (NASDAQ:ATRC) last announced its earnings results 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 the consensus estimate of $131.25 million. AtriCure had a negative return on equity of 2.54% and a negative net margin of 5.55%.The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. On average, analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Justin J. Noznesky sold 5,166 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total value of $192,640.14. Following the completion of the transaction, the insider owned 78,798 shares of the company’s stock, valued at approximately $2,938,377.42. This represents a 6.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maggie Yuen sold 3,000 shares of AtriCure stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $35.72, for a total value of $107,160.00. Following the sale, the director owned 11,371 shares in the company, valued at $406,172.12. This represents a 20.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 18,166 shares of company stock worth $676,378. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ATRC. Aster Capital Management DIFC Ltd increased its stake in shares of AtriCure by 197.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 538 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in AtriCure during the 2nd quarter valued at approximately $37,000. Farther Finance Advisors LLC raised its stake in AtriCure by 1,818.6% during the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock valued at $40,000 after buying an additional 1,073 shares during the last quarter. First Horizon Corp bought a new stake in AtriCure in the third quarter worth $42,000. Finally, CWM LLC grew its stake in shares of AtriCure by 36.6% in the third quarter. CWM LLC now owns 2,587 shares of the medical device company’s stock worth $91,000 after acquiring an additional 693 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.