AtriCure (NASDAQ:ATRC) Stock Price Down 7.6% – Here’s Why

AtriCure, Inc. (NASDAQ:ATRC) shares dropped 7.6% during trading on Monday . The company traded as low as $37.91 and last traded at $38.2950. Approximately 83,617 shares changed hands during trading, a decline of 79% from the average daily volume of 399,969 shares. The stock had previously closed at $41.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ATRC shares. Zacks Research upgraded AtriCure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Citigroup restated a “market outperform” rating on shares of AtriCure in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Canaccord Genuity Group upped their price objective on shares of AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

AtriCure Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.85. The company has a 50 day simple moving average of $37.92 and a 200-day simple moving average of $35.86. The firm has a market cap of $1.86 billion, a PE ratio of -61.26 and a beta of 1.40.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.54%. The firm had revenue of $134.27 million during the quarter, compared to analyst estimates of $131.25 million. During the same period in the previous year, the business posted ($0.17) EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, equities research analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Buying and Selling at AtriCure

In related news, Director Sven Wehrwein sold 4,967 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $38.00, for a total transaction of $188,746.00. Following the completion of the sale, the director directly owned 34,374 shares in the company, valued at $1,306,212. This represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Maggie Yuen sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $35.72, for a total value of $107,160.00. Following the transaction, the director owned 11,371 shares in the company, valued at approximately $406,172.12. The trade was a 20.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,166 shares of company stock worth $676,378 over the last three months. Company insiders own 3.50% of the company’s stock.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of ATRC. Wellington Management Group LLP grew its holdings in shares of AtriCure by 8.1% in the third quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock worth $151,296,000 after purchasing an additional 322,818 shares during the last quarter. Kennedy Capital Management LLC boosted its position in AtriCure by 36.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock valued at $29,501,000 after buying an additional 222,529 shares during the period. Oberweis Asset Management Inc. bought a new stake in AtriCure in the 3rd quarter worth $5,411,000. WCM Investment Management LLC grew its holdings in AtriCure by 69.4% in the 2nd quarter. WCM Investment Management LLC now owns 327,498 shares of the medical device company’s stock worth $10,572,000 after acquiring an additional 134,146 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of AtriCure in the second quarter valued at about $4,353,000. Institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.