AtriCure, Inc. (NASDAQ:ATRC) Insider Justin J. Noznesky Sells 1,500 Shares

AtriCure, Inc. (NASDAQ:ATRC) insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total value of $36,135.00. Following the completion of the transaction, the insider now owns 71,284 shares in the company, valued at $1,717,231.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

AtriCure Stock Performance

AtriCure stock opened at $20.89 on Friday. AtriCure, Inc. has a 52 week low of $20.19 and a 52 week high of $59.61. The company’s 50 day moving average price is $28.81 and its two-hundred day moving average price is $33.13. 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 issued its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.82%. The business had revenue of $108.90 million for the quarter, compared to analysts’ expectations of $106.86 million. During the same period in the previous year, the business posted ($0.23) earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. On average, research analysts predict that AtriCure, Inc. will post -0.71 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ATRC. Canaccord Genuity Group lowered their price objective on shares of AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group upped 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. Needham & Company LLC dropped their price target on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Tuesday, April 23rd. Finally, Stifel Nicolaus lowered their price objective 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 analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and an average price target of $49.78.

Institutional Investors Weigh In On AtriCure

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in AtriCure during the fourth quarter valued at about $9,254,000. TimesSquare Capital Management LLC boosted its stake in AtriCure by 39.2% in the third quarter. TimesSquare Capital Management LLC now owns 904,835 shares of the medical device company’s stock valued at $39,632,000 after acquiring an additional 254,655 shares during the last quarter. Wasatch Advisors LP grew its position in shares of AtriCure by 38.6% during the 1st quarter. Wasatch Advisors LP now owns 720,677 shares of the medical device company’s stock valued at $21,923,000 after acquiring an additional 200,799 shares during the period. Fiera Capital Corp increased its stake in shares of AtriCure by 28.2% during the 4th quarter. Fiera Capital Corp now owns 881,826 shares of the medical device company’s stock worth $31,472,000 after purchasing an additional 193,769 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of AtriCure by 71.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 444,801 shares of the medical device company’s stock worth $13,531,000 after purchasing an additional 185,632 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

About AtriCure

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.