AtriCure (NASDAQ:ATRC) Director Karen Prange Sells 3,000 Shares

AtriCure, Inc. (NASDAQ:ATRC) Director Karen Prange sold 3,000 shares of AtriCure stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the transaction, the director directly owned 26,373 shares of the company’s stock, valued at approximately $755,586.45. This trade represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

AtriCure Price Performance

NASDAQ:ATRC opened at $28.29 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.29 and a quick ratio of 3.18. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -282.90 and a beta of 1.28. The company has a 50 day moving average price of $28.62 and a 200-day moving average price of $33.64. AtriCure, Inc. has a 1-year low of $25.52 and a 1-year high of $43.18.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative net margin of 0.83% and a positive return on equity of 0.29%. The business had revenue of $140.50 million during the quarter, compared to the consensus estimate of $140.50 million. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The company’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts forecast that AtriCure, Inc. will post 0.01 EPS for the current year.

Institutional Investors Weigh In On AtriCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd increased its holdings in AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after acquiring an additional 538 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in AtriCure in the 2nd quarter valued at $37,000. Smartleaf Asset Management LLC raised its stake in AtriCure by 59.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after purchasing an additional 429 shares during the last quarter. Fifth Third Bancorp acquired a new position in AtriCure in the 1st quarter valued at $51,000. Finally, Global Retirement Partners LLC acquired a new position in AtriCure in the 4th quarter valued at $73,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ATRC shares. UBS Group dropped their price objective on AtriCure from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings lowered AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. BTIG Research reissued a “buy” rating and issued a $54.00 price target on shares of AtriCure in a research note on Wednesday, February 18th. JPMorgan Chase & Co. lowered shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price target for the company. in a report on Wednesday, February 11th. Finally, Freedom Capital raised shares of AtriCure to a “strong-buy” rating in a report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.71.

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.