Insider Selling: AtriCure (NASDAQ:ATRC) Director Sells 3,000 Shares of Stock

AtriCure, Inc. (NASDAQ:ATRC) Director Karen Prange sold 3,000 shares of AtriCure stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $28.65, for a total transaction of $85,950.00. Following the completion of the transaction, the director owned 26,373 shares of the company’s stock, valued at $755,586.45. This represents a 10.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

AtriCure Stock Down 2.5%

AtriCure stock traded down $0.72 during trading on Friday, reaching $28.10. The stock had a trading volume of 74,747 shares, compared to its average volume of 716,395. AtriCure, Inc. has a 52-week low of $25.52 and a 52-week high of $43.18. The business has a 50 day moving average price of $28.65 and a 200 day moving average price of $33.67. The company has a quick ratio of 3.18, a current ratio of 4.29 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.42 billion, a PE ratio of -280.90 and a beta of 1.28.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative net margin of 0.83% and a positive return on equity of 0.29%. The company had revenue of $140.50 million during the quarter, compared to the consensus estimate of $140.50 million. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts predict that AtriCure, Inc. will post 0.01 EPS for the current year.

Wall Street Analyst Weigh In

ATRC has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price objective on shares of AtriCure from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Freedom Capital raised shares of AtriCure to a “strong-buy” rating in a report on Wednesday, April 1st. Wall Street Zen cut shares of AtriCure from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings cut shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Citizens Jmp cut their price objective on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AtriCure currently has an average rating of “Moderate Buy” and a consensus price target of $48.71.

Institutional Trading of AtriCure

Institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd increased its stake in AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after buying an additional 538 shares during the period. Geneos Wealth Management Inc. acquired a new position in AtriCure in the 2nd quarter valued at $37,000. Smartleaf Asset Management LLC increased its stake in AtriCure by 59.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after buying an additional 429 shares during the period. Fifth Third Bancorp acquired a new position in AtriCure in the 1st quarter valued at $51,000. Finally, Global Retirement Partners LLC acquired a new position in AtriCure in the 4th quarter valued at $73,000. Hedge funds and other 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.