AtriCure (NASDAQ:ATRC) Hits New 1-Year Low – Here’s Why

AtriCure, Inc. (NASDAQ:ATRC) reached a new 52-week low during trading on Monday . The company traded as low as $28.18 and last traded at $28.5380, with a volume of 43613 shares. The stock had previously closed at $28.88.

Wall Street Analysts Forecast Growth

ATRC has been the subject of a number of recent analyst reports. Zacks Research lowered shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of AtriCure in a report on Thursday, February 12th. UBS Group cut their price target on AtriCure from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Oppenheimer downgraded AtriCure from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Finally, Canaccord Genuity Group dropped their price objective on AtriCure from $64.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.43.

AtriCure Trading Down 1.2%

The stock has a market cap of $1.42 billion, a P/E ratio of -118.96 and a beta of 1.42. The stock’s 50-day moving average is $33.16 and its two-hundred day moving average is $35.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.96 and a quick ratio of 2.99.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. The company had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.50 million. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. AtriCure’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) EPS. Equities research analysts anticipate that AtriCure, Inc. will post -0.6 EPS for the current year.

Insider Buying and Selling

In other AtriCure news, insider Vinayak Doraiswamy sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the transaction, the insider owned 96,875 shares in the company, valued at $2,889,781.25. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATRC. Vanguard Group Inc. raised its stake in AtriCure by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,903,755 shares of the medical device company’s stock valued at $193,993,000 after purchasing an additional 62,861 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of 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 buying an additional 322,818 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of AtriCure by 2.1% in the 2nd quarter. Hood River Capital Management LLC now owns 3,061,059 shares of the medical device company’s stock worth $100,311,000 after buying an additional 61,852 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of AtriCure by 0.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,189,739 shares of the medical device company’s stock worth $38,969,000 after buying an additional 3,674 shares during the last quarter. Finally, First Light Asset Management LLC raised its position in shares of AtriCure by 32.0% during the 4th quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock valued at $46,501,000 after buying an additional 285,083 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.