AtriCure (NASDAQ:ATRC) Trading Down 4.9% – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC) shares dropped 4.9% during trading on Thursday . The stock traded as low as $40.05 and last traded at $40.32. Approximately 158,771 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 610,974 shares. The stock had previously closed at $42.40.

Analyst Ratings Changes

A number of equities research analysts recently commented on ATRC shares. Oppenheimer increased their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their price target on AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group increased their price objective on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $40.00 target price on shares of AtriCure in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and an average target price of $43.38.

AtriCure Price Performance

The stock has a market capitalization of $1.94 billion, a P/E ratio of -48.04 and a beta of 1.42. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $34.72 and a two-hundred day simple moving average of $30.18.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The business had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. During the same period in the prior year, the business posted ($0.20) earnings per share. AtriCure’s revenue was up 17.9% compared to the same quarter last year. Sell-side analysts expect that AtriCure, Inc. will post -0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On AtriCure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI bought a new stake in shares of AtriCure in the 3rd quarter valued at $28,000. Heck Capital Advisors LLC acquired a new position in AtriCure in the fourth quarter valued at about $60,000. Venturi Wealth Management LLC raised its position in shares of AtriCure by 1,337.6% during the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after purchasing an additional 2,100 shares during the period. KBC Group NV lifted its holdings in shares of AtriCure by 65.3% during the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock valued at $72,000 after purchasing an additional 932 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of AtriCure during the 4th quarter valued at about $89,000. Institutional investors own 99.11% of the company’s stock.

About AtriCure

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.