AtriCure (NASDAQ:ATRC) Shares Down 7.6% – Time to Sell?

AtriCure, Inc. (NASDAQ:ATRC) 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 mid-day 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

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

AtriCure Price Performance

The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.87 billion, a PE ratio of -61.70 and a beta of 1.40. The firm’s 50 day simple moving average is $37.67 and its 200 day simple moving average is $35.78.

AtriCure (NASDAQ:ATRC) last released its earnings results on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.10. The firm had revenue of $134.27 million during the quarter, compared to analyst estimates of $131.25 million. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.54%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.17) EPS. 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 fiscal year.

Insider Activity

In other AtriCure 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 value of $192,640.14. Following the sale, the insider owned 78,798 shares in the company, valued at $2,938,377.42. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Maggie Yuen sold 3,000 shares of AtriCure stock in a transaction 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 sale, the director owned 11,371 shares of the company’s stock, valued at approximately $406,172.12. This trade represents a 20.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 18,166 shares of company stock valued at $676,378. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in AtriCure by 1.0% in the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock valued at $2,700,000 after buying an additional 837 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AtriCure by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock valued at $908,000 after purchasing an additional 1,230 shares during the period. Goldman Sachs Group Inc. grew its stake in AtriCure by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock worth $27,830,000 after purchasing an additional 8,956 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in AtriCure by 170.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company’s stock worth $70,872,000 after purchasing an additional 1,385,544 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in AtriCure by 658.3% during the 1st quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock worth $3,254,000 after purchasing an additional 87,553 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

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.