AtriCure (NASDAQ:ATRC) Reaches New 1-Year High – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC)’s stock price hit a new 52-week high on Tuesday. The company traded as high as $61.74 and last traded at $61.5450, with a volume of 308,349 shares changing hands. The stock had previously closed at $61.08.

Analyst Ratings Changes

Several research firms recently weighed in on ATRC. Citizens Jmp increased their price objective on shares of AtriCure from $52.00 to $68.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 21st. BTIG Research lifted their target price on AtriCure from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a report on Wednesday, October 21st. Stifel Nicolaus set a $65.00 target price on AtriCure in a report on Thursday, September 17th. Finally, Raymond James Financial set a $52.00 price target on AtriCure in a research report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.70.

AtriCure Stock Performance

The stock has a market capitalization of $3.13 billion, a P/E ratio of 293.50 and a beta of 1.24. The company’s 50-day moving average is $54.36 and its two-hundred day moving average is $37.75. The company has a current ratio of 4.22, a quick ratio of 3.19 and a debt-to-equity ratio of 0.14.

Insider Transactions at AtriCure

In other news, insider Salvatore Privitera sold 7,763 shares of AtriCure stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $52.50, for a total transaction of $407,557.50. Following the sale, the insider owned 150,921 shares of the company’s stock, valued at approximately $7,923,352.50. The trade was a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karl S. Dahlquist sold 9,370 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $48.89, for a total value of $458,099.30. Following the transaction, the insider owned 87,319 shares of the company’s stock, valued at approximately $4,269,025.91. This represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 43,868 shares of company stock worth $2,138,617 in the last quarter. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of AtriCure

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in AtriCure by 372.8% during the 2nd quarter. Allworth Financial LP now owns 1,527 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 1,204 shares during the period. Rockefeller Capital Management L.P. increased its position in AtriCure by 43.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,983 shares of the medical device company’s stock worth $158,000 after buying an additional 1,205 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of AtriCure in the second quarter valued at approximately $40,000. Sterling Capital Management LLC boosted its position in shares of AtriCure by 841.1% in the third quarter. Sterling Capital Management LLC now owns 1,647 shares of the medical device company’s stock valued at $93,000 after acquiring an additional 1,472 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of AtriCure in the second quarter valued at approximately $46,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Company Profile

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.