AtriCure (NASDAQ:ATRC) Shares Down 4.7% on Insider Selling

AtriCure, Inc. (NASDAQ:ATRC) shares fell 4.7% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $36.81 and last traded at $36.6690. 102,756 shares changed hands during trading, a decline of 81% from the average session volume of 549,538 shares. The stock had previously closed at $38.48.

Specifically, Director Maggie Yuen sold 3,000 shares of AtriCure stock in a transaction on Friday, November 21st. The shares were sold at an average price of $35.72, for a total transaction of $107,160.00. Following the transaction, the director owned 11,371 shares in the company, valued at $406,172.12. This trade represents a 20.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have issued reports on ATRC shares. Needham & Company LLC boosted their price target on AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Canaccord Genuity Group raised their target price on shares of AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of AtriCure from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Citigroup restated a “market outperform” rating on shares of AtriCure in a research note on Thursday, October 30th. Finally, BTIG Research set a $54.00 target price on shares of AtriCure in a report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.22.

AtriCure Stock Down 5.1%

The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.82 billion, a P/E ratio of -59.90 and a beta of 1.56. The company has a fifty day moving average price of $35.12 and a 200-day moving average price of $34.21.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.10. AtriCure had a negative return on equity of 2.56% and a negative net margin of 5.55%.The business had revenue of $134.27 million during the quarter, compared to analysts’ expectations of $131.25 million. During the same quarter last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, research analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently made changes to their positions in ATRC. Aster Capital Management DIFC Ltd grew its holdings in AtriCure by 197.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 538 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of AtriCure during the second quarter valued at approximately $37,000. Farther Finance Advisors LLC raised its holdings in shares of AtriCure by 1,818.6% in the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after buying an additional 1,073 shares during the period. First Horizon Corp purchased a new position in AtriCure during the 3rd quarter valued at $42,000. Finally, US Bancorp DE grew its position in AtriCure by 98.1% in the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company’s stock valued at $51,000 after acquiring an additional 789 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.