AtriCure (NASDAQ:ATRC) Reaches New 12-Month Low – Time to Sell?

AtriCure, Inc. (NASDAQ:ATRC) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $27.26 and last traded at $27.5550, with a volume of 44345 shares traded. The stock had previously closed at $28.22.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ATRC shares. BTIG Research reiterated a “buy” rating and set a $54.00 target price on shares of AtriCure in a research report on Wednesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of AtriCure in a research report on Thursday, February 12th. Freedom Capital raised AtriCure to a “strong-buy” rating in a research note on Wednesday, April 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.43.

AtriCure Price Performance

The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -115.27 and a beta of 1.43. The company has a fifty day simple moving average of $31.54 and a two-hundred day simple moving average of $35.24.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. The company had revenue of $140.50 million for the quarter, compared to analyst estimates of $140.50 million. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.AtriCure’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.33) earnings per share. On average, equities research analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Vinayak Doraiswamy sold 5,000 shares of AtriCure stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the transaction, the insider directly owned 96,875 shares in the company, valued at $2,889,781.25. The trade was a 4.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 raised its holdings in shares of AtriCure by 197.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after acquiring an additional 538 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of AtriCure by 1,818.6% in the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock valued at $40,000 after acquiring an additional 1,073 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of AtriCure in the second quarter valued at $37,000. Smartleaf Asset Management LLC lifted its position in shares of AtriCure by 59.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after acquiring an additional 429 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in shares of AtriCure in the third quarter valued at $42,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.