AtriCure (NASDAQ:ATRC) Trading 4.7% Higher

AtriCure, Inc. (NASDAQ:ATRC) rose 4.7% during trading on Wednesday . The company traded as high as $22.28 and last traded at $22.27. Approximately 317,959 shares changed hands during trading, a decline of 56% from the average daily volume of 723,859 shares. The stock had previously closed at $21.28.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ATRC shares. Canaccord Genuity Group decreased their target price on shares of AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. StockNews.com downgraded AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Oppenheimer upgraded 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. JPMorgan Chase & Co. dropped their price objective on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Needham & Company LLC reduced their target price on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus target price of $49.78.

AtriCure Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 4.00. The business has a 50-day moving average price of $22.37 and a 200-day moving average price of $29.18.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The business had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $106.86 million. AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned ($0.23) earnings per share. On average, equities analysts expect that AtriCure, Inc. will post -0.75 EPS for the current year.

Insider Buying and Selling

In other news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total value of $36,135.00. Following the sale, the insider now directly owns 71,284 shares in the company, valued at approximately $1,717,231.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AtriCure news, insider Salvatore Privitera acquired 5,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was purchased at an average price of $22.25 per share, with a total value of $111,250.00. Following the transaction, the insider now directly owns 103,290 shares of the company’s stock, valued at $2,298,202.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total value of $36,135.00. Following the transaction, the insider now directly owns 71,284 shares in the company, valued at $1,717,231.56. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AtriCure

Several institutional investors have recently added to or reduced their stakes in ATRC. Comerica Bank boosted its holdings in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after buying an additional 1,043 shares in the last quarter. Grandeur Peak Global Advisors LLC boosted its stake in shares of AtriCure by 49.0% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 345,030 shares of the medical device company’s stock worth $10,496,000 after acquiring an additional 113,480 shares in the last quarter. Kennedy Capital Management LLC increased its stake in shares of AtriCure by 115.5% in the 1st quarter. Kennedy Capital Management LLC now owns 227,193 shares of the medical device company’s stock valued at $6,911,000 after purchasing an additional 121,752 shares in the last quarter. Bayesian Capital Management LP purchased a new position in AtriCure during the first quarter worth approximately $344,000. Finally, First Light Asset Management LLC grew its holdings in AtriCure by 2.5% in the first quarter. First Light Asset Management LLC now owns 1,382,860 shares of the medical device company’s stock valued at $42,067,000 after purchasing an additional 33,417 shares during the period. 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.