AtriCure (NASDAQ:ATRC) Stock Price Up 6.7% – Still a Buy?

AtriCure, Inc. (NASDAQ:ATRC)’s stock price was up 6.7% during mid-day trading on Thursday . The stock traded as high as $38.48 and last traded at $39.8890. Approximately 50,446 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 497,153 shares. The stock had previously closed at $37.37.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ATRC shares. Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. Canaccord Genuity Group boosted their target price 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. Zacks Research upgraded shares of AtriCure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.44.

AtriCure Trading Up 11.0%

The company has a current ratio of 3.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $37.92 and a 200 day moving average of $35.86. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -67.55 and a beta of 1.40.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $134.27 million for the quarter, compared to analyst estimates of $131.25 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The firm’s quarterly revenue 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 anticipate that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Transactions at AtriCure

In other news, insider Justin J. Noznesky sold 5,166 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total transaction of $192,640.14. Following the sale, the insider owned 78,798 shares in the company, valued at approximately $2,938,377.42. This represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sven Wehrwein sold 5,033 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $37.32, for a total value of $187,831.56. Following the completion of the sale, the director owned 34,374 shares of the company’s stock, valued at approximately $1,282,837.68. This trade represents a 12.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,166 shares of company stock valued at $676,378 in the last three months. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of AtriCure

Several hedge funds have recently modified their holdings of ATRC. Wellington Management Group LLP raised its position in AtriCure by 8.1% in the 3rd 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 holdings in AtriCure by 36.2% in the third quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock valued at $29,501,000 after acquiring an additional 222,529 shares during the last quarter. Oberweis Asset Management Inc. acquired a new stake in AtriCure in the third quarter worth about $5,411,000. WCM Investment Management LLC raised its holdings in AtriCure by 69.4% during the 2nd quarter. WCM Investment Management LLC now owns 327,498 shares of the medical device company’s stock worth $10,572,000 after purchasing an additional 134,146 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of AtriCure in the 2nd quarter valued at about $4,353,000. 99.11% of the stock is owned by institutional investors.

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.