Key Points
- Director Karen Prange sold 3,000 AtriCure shares on May 20 at an average price of $28.65, for proceeds of $85,950. After the sale, she still held 26,373 shares, reducing her ownership by 10.21%.
- AtriCure stock fell 1.8% and opened at $28.29, trading well below its 200-day moving average of $33.64 and near its 52-week low of $25.52.
- Analysts remain generally positive on the medical device maker, with a consensus rating of “Moderate Buy” and an average target price of $48.71, despite some recent target cuts and rating changes.
AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) Director Karen Prange sold 3,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total value of $85,950.00. Following the completion of the transaction, the director directly owned 26,373 shares of the company's stock, valued at approximately $755,586.45. This represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
AtriCure Stock Down 1.8%
NASDAQ ATRC opened at $28.29 on Friday. The business has a fifty day moving average price of $28.62 and a 200 day moving average price of $33.64. AtriCure, Inc. has a one year low of $25.52 and a one year high of $43.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.18 and a current ratio of 4.29. The company has a market cap of $1.43 billion, a P/E ratio of -282.90 and a beta of 1.28.
AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. AtriCure had a positive return on equity of 0.29% and a negative net margin of 0.83%.The firm had revenue of $140.50 million during the quarter, compared to the consensus estimate of $140.50 million. During the same period in the prior year, the company earned ($0.33) EPS. The firm's revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that AtriCure, Inc. will post 0.01 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. BTIG Research reissued a "buy" rating and issued a $54.00 price objective on shares of AtriCure in a research note on Wednesday, February 18th. Citizens Jmp cut their target price on AtriCure from $60.00 to $52.00 and set a "market outperform" rating for the company in a research note on Wednesday, February 18th. UBS Group cut their target price on AtriCure from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Zacks Research raised AtriCure from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded AtriCure from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AtriCure presently has a consensus rating of "Moderate Buy" and an average target price of $48.71.
Read Our Latest Research Report on ATRC
Institutional Trading of AtriCure
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in shares of AtriCure by 6.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the medical device company's stock worth $218,000 after acquiring an additional 380 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of AtriCure by 59.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company's stock worth $46,000 after acquiring an additional 429 shares during the last quarter. Scotia Capital Inc. increased its stake in shares of AtriCure by 1.2% in the 3rd quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company's stock worth $1,328,000 after acquiring an additional 457 shares during the last quarter. First Bank & Trust increased its stake in shares of AtriCure by 6.0% in the 4th quarter. First Bank & Trust now owns 8,805 shares of the medical device company's stock worth $348,000 after acquiring an additional 495 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of AtriCure by 197.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company's stock worth $29,000 after purchasing an additional 538 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.
About AtriCure
(
Get Free Report)
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.
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