Vinayak Doraiswamy Sells 2,500 Shares of AtriCure, Inc. (NASDAQ:ATRC) Stock

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) insider Vinayak Doraiswamy sold 2,500 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $33.44, for a total value of $83,600.00. Following the completion of the transaction, the insider now directly owns 73,550 shares of the company's stock, valued at approximately $2,459,512. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

AtriCure Trading Up 2.1%

Shares of AtriCure stock traded up $0.73 on Tuesday, reaching $34.73. The company had a trading volume of 511,013 shares, compared to its average volume of 649,640. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -36.56 and a beta of 1.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The firm's 50-day moving average price is $32.31 and its two-hundred day moving average price is $34.67. AtriCure, Inc. has a 1 year low of $18.94 and a 1 year high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.11. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. The firm had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. During the same period last year, the company earned ($0.28) EPS. AtriCure's quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ATRC. Canaccord Genuity Group dropped their price objective on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, March 28th. UBS Group dropped their price target on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Oppenheimer increased their price target on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. BTIG Research reissued a "buy" rating on shares of AtriCure in a research note on Thursday, March 27th. Finally, Stifel Nicolaus increased their price target on AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.67.

Institutional Investors Weigh In On AtriCure

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of AtriCure by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 4,714,371 shares of the medical device company's stock worth $152,086,000 after acquiring an additional 61,166 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of AtriCure by 3.3% during the 4th quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock worth $89,349,000 after acquiring an additional 93,131 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of AtriCure by 170.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company's stock worth $70,872,000 after acquiring an additional 1,385,544 shares during the last quarter. First Light Asset Management LLC lifted its stake in shares of AtriCure by 5.6% during the 4th quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock worth $60,179,000 after acquiring an additional 103,685 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of AtriCure by 26.3% during the 1st quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company's stock worth $38,365,000 after acquiring an additional 246,877 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

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.