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

Shares of AtriCure, Inc. (NASDAQ:ATRCGet Free Report) traded down 2.8% during mid-day trading on Wednesday following insider selling activity. The stock 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 stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $30.39, for a total value of $45,585.00. Following the completion of the sale, the insider now directly owns 72,784 shares of the company’s stock, valued at $2,211,905.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Karl S. Dahlquist sold 1,885 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.16, for a total transaction of $60,621.60. Following the transaction, the insider now directly owns 50,954 shares in the company, valued at $1,638,680.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $30.39, for a total transaction of $45,585.00. Following the transaction, the insider now directly owns 72,784 shares in the company, valued at approximately $2,211,905.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,116 shares of company stock worth $468,797. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ATRC. StockNews.com lowered AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. UBS Group lifted their price objective on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Stifel Nicolaus dropped their target price on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Needham & Company LLC increased their target price on shares of AtriCure from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.57.

Check Out Our Latest Report on AtriCure

AtriCure Price Performance

The stock has a market cap of $1.28 billion, a P/E ratio of -40.12 and a beta of 1.38. The company has a quick ratio of 2.66, a current ratio of 3.57 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $32.88 and its two-hundred day simple moving average is $35.72.

AtriCure (NASDAQ:ATRCGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.01. The company had revenue of $106.50 million during the quarter, compared to the consensus estimate of $103.68 million. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. AtriCure’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the firm earned ($0.09) EPS. Sell-side analysts expect that AtriCure, Inc. will post -0.71 EPS for the current year.

Institutional Trading of AtriCure

A number of institutional investors have recently added to or reduced their stakes in ATRC. RiverPark Advisors LLC bought a new stake in shares of AtriCure during the third quarter valued at about $27,000. Arcadia Investment Management Corp MI bought a new stake in AtriCure during the 3rd quarter worth approximately $28,000. Virtus Fund Advisers LLC purchased a new stake in AtriCure in the 4th quarter worth approximately $27,000. State of Wyoming boosted its holdings in AtriCure by 34.6% in the 2nd quarter. State of Wyoming now owns 1,030 shares of the medical device company’s stock valued at $51,000 after purchasing an additional 265 shares during the period. Finally, Almanack Investment Partners LLC. bought a new position in AtriCure in the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.

Featured Articles

Receive News & Ratings for AtriCure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AtriCure and related companies with MarketBeat.com's FREE daily email newsletter.