AtriCure (NASDAQ:ATRC) Insider Sells $546,260.00 in Stock

AtriCure, Inc. (NASDAQ:ATRC) insider Salvatore Privitera sold 8,404 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $65.00, for a total value of $546,260.00. Following the sale, the insider owned 134,341 shares of the company’s stock, valued at approximately $8,732,165. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Salvatore Privitera also recently made the following trade(s):

• On Wednesday, September 23rd, Salvatore Privitera sold 4,519 shares of AtriCure stock. The shares were sold at an average price of $60.00, for a total value of $271,140.00.
• On Tuesday, September 8th, Salvatore Privitera sold 3,657 shares of AtriCure stock. The shares were sold at an average price of $55.00, for a total value of $201,135.00.
• On Wednesday, September 2nd, Salvatore Privitera sold 7,763 shares of AtriCure stock. The stock was sold at an average price of $52.50, for a total value of $407,557.50.

AtriCure Stock Down 4.5%

ATRC stock opened at $58.54 on Friday. The stock has a market capitalization of $2.98 billion, a P/E ratio of 195.14 and a beta of 1.23. The company has a current ratio of 4.33, a quick ratio of 3.19 and a debt-to-equity ratio of 0.17. AtriCure, Inc. has a 12 month low of $25.36 and a 12 month high of $66.02. The firm has a 50-day moving average price of $56.81 and a 200-day moving average price of $38.73.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, November 3rd. The medical device company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The company had revenue of $154.45 million for the quarter, compared to the consensus estimate of $151.05 million. AtriCure had a net margin of 2.52% and a return on equity of 4.01%. As a group, equities research analysts anticipate that AtriCure, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on ATRC shares. Canaccord Genuity Group raised their target price on shares of AtriCure from $55.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC upped their price target on shares of AtriCure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. Citizens Jmp increased their price target on AtriCure from $52.00 to $68.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 21st. Weiss Ratings raised AtriCure from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, Raymond James Financial set a $52.00 price objective on AtriCure in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.80.

Hedge Funds Weigh In On AtriCure

Several large investors have recently modified their holdings of ATRC. Harbor Investment Advisory LLC acquired a new position in shares of AtriCure during the second quarter worth $40,000. Allworth Financial LP bought a new stake in shares of AtriCure in the second quarter worth $43,000. Integrated Wealth Concepts LLC acquired a new stake in AtriCure in the second quarter valued at $46,000. Fifth Third Bancorp acquired a new stake in AtriCure in the first quarter valued at $51,000. Finally, Global Retirement Partners LLC acquired a new stake in AtriCure in the second quarter valued at $52,000. Institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.