Regina E. Groves Sells 6,313 Shares of AtriCure Inc. (NASDAQ:ATRC) Stock

AtriCure Inc. (NASDAQ:ATRC) Director Regina E. Groves sold 6,313 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $41.83, for a total value of $264,072.79. Following the sale, the director now owns 21,809 shares in the company, valued at approximately $912,270.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of AtriCure stock traded down $0.75 during trading on Wednesday, hitting $41.24. 239,162 shares of the stock traded hands, compared to its average volume of 413,545. The firm has a market cap of $1.85 billion, a P/E ratio of -32.20 and a beta of 0.71. The company has a current ratio of 7.67, a quick ratio of 6.81 and a debt-to-equity ratio of 0.16. AtriCure Inc. has a 52-week low of $23.17 and a 52-week high of $51.76. The stock’s fifty day simple moving average is $41.92 and its 200 day simple moving average is $41.45.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, July 28th. The medical device company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.21. The firm had revenue of $40.82 million for the quarter, compared to analyst estimates of $36.07 million. AtriCure had a negative return on equity of 19.55% and a negative net margin of 23.64%. The business’s revenue for the quarter was down 30.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, equities analysts expect that AtriCure Inc. will post -1.3 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its stake in shares of AtriCure by 7.4% during the first quarter. Ameritas Investment Partners Inc. now owns 3,396 shares of the medical device company’s stock valued at $114,000 after buying an additional 234 shares during the period. Diversified Trust Co boosted its position in AtriCure by 5.2% during the second quarter. Diversified Trust Co now owns 8,125 shares of the medical device company’s stock valued at $365,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System boosted its position in AtriCure by 7.1% during the second quarter. Arizona State Retirement System now owns 9,942 shares of the medical device company’s stock valued at $447,000 after purchasing an additional 657 shares in the last quarter. Meeder Asset Management Inc. boosted its position in AtriCure by 212.9% during the first quarter. Meeder Asset Management Inc. now owns 1,064 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 724 shares in the last quarter. Finally, IFP Advisors Inc bought a new stake in AtriCure during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

ATRC has been the topic of several recent research reports. BTIG Research restated a “buy” rating and set a $56.00 price target on shares of AtriCure in a report on Tuesday, July 28th. Piper Sandler increased their price target on AtriCure from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. BidaskClub upgraded AtriCure from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 1st. ValuEngine upgraded AtriCure from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. increased their target price on AtriCure from $48.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $52.38.

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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