AtriCure (NASDAQ:ATRC) Stock Price Up 3.2%

Shares of AtriCure, Inc. (NASDAQ:ATRC) shot up 3.2% during mid-day trading on Thursday . The stock traded as high as $24.87 and last traded at $24.75. 117,480 shares were traded during trading, a decline of 85% from the average session volume of 776,701 shares. The stock had previously closed at $23.99.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Needham & Company LLC reduced their price objective on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler dropped their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, BTIG Research reduced their price objective on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.44.

AtriCure Stock Performance

The company’s 50-day moving average price is $22.61 and its 200 day moving average price is $25.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 4.13. The stock has a market capitalization of $1.15 billion, a PE ratio of -29.99 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). The business had revenue of $116.27 million during the quarter, compared to analyst estimates of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. AtriCure’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS. On average, equities research analysts expect that AtriCure, Inc. will post -0.77 earnings per share for the current fiscal year.

Insider Transactions at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now owns 8,970 shares in the company, valued at $215,907.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Salvatore Privitera purchased 5,000 shares of AtriCure stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $22.25 per share, for a total transaction of $111,250.00. Following the transaction, the insider now directly owns 103,290 shares of the company’s stock, valued at approximately $2,298,202.50. The disclosure for this purchase can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank lifted its holdings in AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares in the last quarter. Quest Partners LLC purchased a new position in shares of AtriCure in the 4th quarter valued at about $103,000. Virtu Financial LLC purchased a new position in shares of AtriCure in the 4th quarter valued at about $213,000. Victory Capital Management Inc. lifted its stake in AtriCure by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its stake in AtriCure by 32.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after purchasing an additional 2,368 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.