AtriCure Inc. (NASDAQ:ATRC) CEO Michael H. Carrel Sells 25,000 Shares of Stock

AtriCure Inc. (NASDAQ:ATRC) CEO Michael H. Carrel sold 25,000 shares of AtriCure stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $34.00, for a total transaction of $850,000.00. Following the transaction, the chief executive officer now directly owns 651,490 shares of the company’s stock, valued at $22,150,660. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ATRC opened at $36.74 on Friday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -39.09 and a beta of 0.32. The company has a current ratio of 3.11, a quick ratio of 2.49 and a debt-to-equity ratio of 0.29. AtriCure Inc. has a 12 month low of $22.57 and a 12 month high of $36.75. The stock has a fifty day moving average price of $31.70 and a 200-day moving average price of $28.98.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Wednesday, October 30th. The medical device company reported ($0.25) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.03. AtriCure had a negative return on equity of 13.59% and a negative net margin of 10.13%. The firm had revenue of $56.60 million for the quarter, compared to the consensus estimate of $55.12 million. During the same period in the previous year, the business earned ($0.24) EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that AtriCure Inc. will post -1.11 EPS for the current year.

A number of research analysts recently issued reports on ATRC shares. Zacks Investment Research cut shares of AtriCure from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. ValuEngine lowered shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, BidaskClub upgraded shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $36.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Metropolitan Life Insurance Co NY raised its stake in AtriCure by 15.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 13,532 shares of the medical device company’s stock valued at $337,000 after buying an additional 1,837 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of AtriCure during the 3rd quarter worth approximately $2,682,000. Quantum Capital Management raised its position in shares of AtriCure by 5.8% during the 3rd quarter. Quantum Capital Management now owns 126,363 shares of the medical device company’s stock worth $3,151,000 after purchasing an additional 6,923 shares during the last quarter. California State Teachers Retirement System raised its position in shares of AtriCure by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 57,823 shares of the medical device company’s stock worth $1,442,000 after purchasing an additional 690 shares during the last quarter. Finally, Tamarack Advisers LP raised its position in shares of AtriCure by 25.9% during the 3rd quarter. Tamarack Advisers LP now owns 850,000 shares of the medical device company’s stock worth $21,199,000 after purchasing an additional 175,000 shares during the last quarter. Institutional investors and hedge funds own 88.41% of the company’s stock.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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