AtriCure (NASDAQ:ATRC) Shares Gap Up to $22.71

AtriCure, Inc. (NASDAQ:ATRC)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $22.71, but opened at $23.92. AtriCure shares last traded at $23.97, with a volume of 179,703 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of AtriCure in a research note on Wednesday, April 10th. UBS Group boosted their price target on shares of AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 16th. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Tuesday. StockNews.com lowered AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Finally, Stifel Nicolaus lowered their target price on AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.63.

AtriCure Stock Up 4.7 %

The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.15 billion, a P/E ratio of -36.39 and a beta of 1.38. The firm’s 50 day moving average price is $30.61 and its two-hundred day moving average price is $34.05.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $103.68 million. During the same period in the prior year, the business posted ($0.09) EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Equities research analysts forecast that AtriCure, Inc. will post -0.71 EPS for the current year.

Insider Activity at AtriCure

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

Institutional Trading of AtriCure

A number of institutional investors have recently modified their holdings of ATRC. Knights of Columbus Asset Advisors LLC increased its position in shares of AtriCure by 165.8% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock worth $4,409,000 after purchasing an additional 77,055 shares during the period. CenterBook Partners LP acquired a new position in shares of AtriCure in the 3rd quarter valued at approximately $770,000. Decheng Capital Management III Cayman LLC bought a new stake in shares of AtriCure during the 3rd quarter worth approximately $2,026,000. Envestnet Asset Management Inc. increased its stake 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 valued at $5,124,000 after acquiring an additional 65,653 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in AtriCure by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,689,883 shares of the medical device company’s stock valued at $205,417,000 after purchasing an additional 43,431 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.