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

Key Points

• Vinayak Doraiswamy, an insider at AtriCure, sold 2,500 shares at an average price of $36.58, totaling approximately $91,450, leading to a 3.36% reduction in their stake.
• AtriCure's stock has shown a trading range of a twelve-month low of $20.20 and a high of $43.11, with a recent price of $36.02.
• The company's latest financial results exceeded expectations, reporting a revenue of $136.14 million and an EPS of ($0.02), surpassing the consensus estimate by $0.13.

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) insider Vinayak Doraiswamy sold 2,500 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total value of $91,450.00. Following the completion of the transaction, the insider directly owned 71,872 shares of the company's stock, valued at approximately $2,629,077.76. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Vinayak Doraiswamy also recently made the following trade(s):

• On Wednesday, May 28th, Vinayak Doraiswamy sold 2,500 shares of AtriCure stock. The stock was sold at an average price of $33.44, for a total value of $83,600.00.

AtriCure Stock Performance

AtriCure stock traded down $0.59 during trading hours on Friday, hitting $35.31. 398,416 shares of the stock traded hands, compared to its average volume of 712,018. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. The firm's 50 day moving average price is $32.62 and its 200-day moving average price is $34.25. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -45.86 and a beta of 1.61. AtriCure, Inc. has a 1 year low of $20.44 and a 1 year high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.13. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%. The firm had revenue of $136.14 million for the quarter, compared to the consensus estimate of $130.17 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company's revenue was up 17.1% compared to the same quarter last year. As a group, equities analysts expect that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ATRC. BTIG Research set a $54.00 price target on AtriCure in a research report on Wednesday, July 30th. UBS Group dropped their target price on AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC boosted their target price on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, JMP Securities restated a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a research note on Wednesday, April 30th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $50.89.

Institutional Trading of AtriCure

Hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its stake in shares of AtriCure by 135.3% in the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after buying an additional 832 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in AtriCure by 1,184.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after purchasing an additional 1,492 shares during the period. US Bancorp DE raised its holdings in AtriCure by 98.1% in the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after purchasing an additional 789 shares during the period. Heck Capital Advisors LLC acquired a new position in AtriCure in the 4th quarter worth about $60,000. Finally, State of Wyoming raised its holdings in AtriCure by 21.9% in the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after purchasing an additional 446 shares during the period. Hedge funds and other institutional investors own 99.11% of the company's stock.

AtriCure Company Profile

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.