AtriCure (NASDAQ:ATRC) Shares Down 2.8% on Insider Selling

AtriCure, Inc. (NASDAQ:ATRCGet Free Report) traded down 2.8% on Wednesday after an insider sold shares in the company. The company traded as low as $26.21 and last traded at $26.44. 111,358 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 641,925 shares. The stock had previously closed at $27.21.

Specifically, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total value of $55,080.00. Following the transaction, the insider now owns 74,284 shares in the company, valued at $2,727,708.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the sale, the insider now owns 74,284 shares in the company, valued at approximately $2,727,708.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Karl S. Dahlquist sold 1,885 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $32.16, for a total value of $60,621.60. Following the sale, the insider now owns 50,954 shares of the company’s stock, valued at approximately $1,638,680.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,116 shares of company stock worth $468,797. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

ATRC has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Needham & Company LLC boosted their price objective on AtriCure from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. UBS Group upped their price target on AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, StockNews.com cut AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.57.

Check Out Our Latest Stock Analysis on ATRC

AtriCure Stock Performance

The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $33.02 and a 200-day moving average price of $35.79. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -41.23 and a beta of 1.38.

AtriCure (NASDAQ:ATRCGet Free Report) last issued its earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $103.68 million. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. AtriCure’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) EPS. As a group, analysts anticipate that AtriCure, Inc. will post -0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AtriCure

A number of large investors have recently bought and sold shares of ATRC. RiverPark Advisors LLC bought a new stake in AtriCure during the 3rd quarter worth approximately $27,000. Virtus Fund Advisers LLC bought a new position in AtriCure in the 4th quarter valued at $27,000. Arcadia Investment Management Corp MI bought a new position in AtriCure in the 3rd quarter valued at $28,000. KBC Group NV bought a new position in AtriCure in the 4th quarter valued at $41,000. Finally, Almanack Investment Partners LLC. bought a new position in AtriCure in the 3rd quarter valued at $43,000. 99.11% of the stock is currently owned by institutional investors.

AtriCure Company Profile

(Get Free Report)

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.

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