Regina E. Groves Sells 2,452 Shares of AtriCure, Inc. (NASDAQ:ATRC) Stock

AtriCure, Inc. (NASDAQ:ATRC) Director Regina E. Groves sold 2,452 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $36.82, for a total value of $90,282.64. Following the completion of the sale, the director owned 33,715 shares in the company, valued at $1,241,386.30. This represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AtriCure Price Performance

AtriCure stock opened at $35.31 on Friday. AtriCure, Inc. has a 52-week low of $20.44 and a 52-week high of $43.11. The firm has a fifty day moving average of $32.62 and a 200-day moving average of $34.25. The firm has a market capitalization of $1.75 billion, a P/E ratio of -45.86 and a beta of 1.61. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.13. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The company had revenue of $136.14 million during the quarter, compared to analyst estimates of $130.17 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. As a group, analysts predict that AtriCure, Inc. will post -0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ATRC shares. JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a research note on Wednesday, April 30th. Needham & Company LLC upped their price objective on shares of AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. UBS Group reduced their price objective on shares of AtriCure from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen raised shares of AtriCure from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, BTIG Research set a $54.00 price target on shares of AtriCure in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $50.89.

Institutional Investors Weigh In On AtriCure

Several large investors have recently made changes to their positions in ATRC. American Century Companies Inc. acquired a new stake in shares of AtriCure in the fourth quarter worth $516,000. LPL Financial LLC increased its position in shares of AtriCure by 5.4% in the fourth quarter. LPL Financial LLC now owns 11,465 shares of the medical device company’s stock worth $350,000 after acquiring an additional 584 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AtriCure by 43.1% in the fourth quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company’s stock worth $11,160,000 after acquiring an additional 110,039 shares in the last quarter. Norges Bank acquired a new stake in AtriCure during the 4th quarter valued at $3,421,000. Finally, Pictet Asset Management Holding SA acquired a new stake in AtriCure during the 4th quarter valued at $206,000. Institutional investors and hedge funds 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.