AtriCure (NASDAQ:ATRC) Sets New 1-Year Low at $27.86

Shares of AtriCure, Inc. (NASDAQ:ATRCGet Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $27.86 and last traded at $27.86, with a volume of 52863 shares. The stock had previously closed at $29.09.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ATRC. StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. UBS Group raised their price target on shares of AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus cut their price target on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Needham & Company LLC raised their price target on shares of AtriCure from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.57.

Read Our Latest Stock Analysis on ATRC

AtriCure Stock Performance

The business’s 50 day moving average price is $32.88 and its 200-day moving average price is $35.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57.

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

Insider Activity

In related news, insider Karl S. Dahlquist sold 8,231 shares of AtriCure stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the completion of the sale, the insider now owns 52,839 shares in the company, valued at $1,974,065.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the sale, the insider now owns 52,839 shares in the company, valued at $1,974,065.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Karl S. Dahlquist sold 1,885 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $32.16, for a total transaction 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. Insiders have sold 13,116 shares of company stock worth $468,797 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Several institutional investors have recently modified their holdings of ATRC. PNC Financial Services Group Inc. grew its position in shares of AtriCure by 47.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,975 shares of the medical device company’s stock worth $392,000 after acquiring an additional 1,931 shares during the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of AtriCure during the first quarter worth about $343,000. MetLife Investment Management LLC grew its position in shares of AtriCure by 54.8% during the first quarter. MetLife Investment Management LLC now owns 24,141 shares of the medical device company’s stock worth $1,585,000 after acquiring an additional 8,549 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of AtriCure by 7.0% during the first quarter. Dimensional Fund Advisors LP now owns 717,125 shares of the medical device company’s stock worth $47,092,000 after acquiring an additional 46,705 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of AtriCure by 0.5% during the first quarter. Sei Investments Co. now owns 94,103 shares of the medical device company’s stock worth $6,182,000 after acquiring an additional 461 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

About AtriCure

(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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