AtriCure (NASDAQ:ATRC) Reaches New 52-Week Low at $22.42

AtriCure, Inc. (NASDAQ:ATRC) reached a new 52-week low during trading on Tuesday . The company traded as low as $22.42 and last traded at $22.54, with a volume of 23361 shares trading hands. The stock had previously closed at $22.90.

Wall Street Analyst Weigh In

ATRC has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price objective on shares of AtriCure in a research note on Wednesday, April 10th. StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. UBS Group lifted their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus dropped their price objective on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.57.

AtriCure Trading Down 0.3 %

The firm has a market capitalization of $1.10 billion, a P/E ratio of -34.70 and a beta of 1.38. The business’s 50-day moving average is $31.80 and its 200 day moving average is $34.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The company had revenue of $106.50 million for the quarter, compared to the consensus estimate of $103.68 million. During the same period last year, the company posted ($0.09) EPS. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, analysts anticipate that AtriCure, Inc. will post -0.71 EPS for the current fiscal year.

Insider Activity

In related news, insider Karl S. Dahlquist sold 8,231 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total value of $307,510.16. Following the completion of the sale, the insider now directly owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the transaction, the insider now owns 74,284 shares of the company’s stock, valued at approximately $2,727,708.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl S. Dahlquist sold 8,231 shares of AtriCure stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The disclosure for this sale can be found here. Insiders sold 13,116 shares of company stock worth $468,797 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CenterBook Partners LP purchased a new stake in shares of AtriCure in the third quarter worth $770,000. Envestnet Asset Management Inc. increased its position in AtriCure by 127.9% in the third quarter. Envestnet Asset Management Inc. now owns 116,990 shares of the medical device company’s stock worth $5,124,000 after buying an additional 65,653 shares in the last quarter. Decheng Capital Management III Cayman LLC purchased a new stake in shares of AtriCure during the third quarter worth about $2,026,000. Vanguard Group Inc. grew its position in shares of AtriCure by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,689,883 shares of the medical device company’s stock worth $205,417,000 after purchasing an additional 43,431 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in AtriCure by 28.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 259,169 shares of the medical device company’s stock valued at $9,250,000 after buying an additional 56,761 shares in the last quarter. Institutional investors 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.