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

Shares of AtriCure, Inc. (NASDAQ:ATRC) hit 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group increased their price target on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of AtriCure in a research note on Wednesday, April 10th. StockNews.com downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Finally, Stifel Nicolaus lowered their price target 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 equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.57.

AtriCure Trading Down 0.3 %

The company’s fifty day moving average is $31.80 and its two-hundred day moving average is $34.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -34.70 and a beta of 1.38.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data 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 return on equity of 7.55% and a negative net margin of 7.62%. The company had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. During the same quarter last year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, research analysts anticipate that AtriCure, Inc. will post -0.71 EPS for the current year.

Insider Buying and Selling

In other 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 value of $55,080.00. Following the completion of the transaction, the insider now owns 74,284 shares in the company, valued at approximately $2,727,708.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Justin J. Noznesky sold 1,500 shares of the business’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 transaction, the insider now owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karl S. Dahlquist sold 1,885 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total value of $60,621.60. Following the completion of the transaction, the insider now owns 50,954 shares of the company’s stock, valued at approximately $1,638,680.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,116 shares of company stock valued at $468,797. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AtriCure

Hedge funds and other institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC acquired a new position in AtriCure during the third quarter valued at $27,000. Virtus Fund Advisers LLC bought a new stake in shares of AtriCure during the 4th quarter worth about $27,000. Arcadia Investment Management Corp MI acquired a new position in shares of AtriCure during the 3rd quarter worth about $28,000. KBC Group NV acquired a new position in shares of AtriCure during the 4th quarter worth about $41,000. Finally, Almanack Investment Partners LLC. acquired a new position in shares of AtriCure during the 3rd quarter worth about $43,000. 99.11% of the stock is currently owned by hedge funds and other 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.