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 AtriCure stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $36.58, for a total transaction of $91,450.00. Following the transaction, the insider owned 71,872 shares in the company, valued at $2,629,077.76. The trade was a 3.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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 Price Performance

ATRC traded up $0.18 during trading on Monday, reaching $35.49. The stock had a trading volume of 678,274 shares, compared to its average volume of 712,536. The stock has a 50 day moving average of $32.65 and a two-hundred day moving average of $34.13. The company has a quick ratio of 2.83, a current ratio of 3.94 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -46.09 and a beta of 1.61. AtriCure, Inc. has a 1-year low of $20.70 and a 1-year high of $43.11.

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

Wall Street Analysts Forecast Growth

ATRC has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. UBS Group cut their price objective on AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. BTIG Research set a $54.00 price target on shares of AtriCure in a research report on Wednesday, July 30th. JMP Securities reaffirmed a "market outperform" rating and set a $60.00 price objective on shares of AtriCure in a research report on Wednesday, April 30th. Finally, Needham & Company LLC raised their target price on shares of AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $50.89.

Institutional Trading of AtriCure

A number of large investors have recently added to or reduced their stakes in ATRC. Invesco Ltd. boosted its position in shares of AtriCure by 0.8% in the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company's stock worth $1,334,000 after buying an additional 334 shares during the period. Teacher Retirement System of Texas lifted its stake in AtriCure by 5.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,512 shares of the medical device company's stock worth $246,000 after acquiring an additional 385 shares in the last quarter. State of Wyoming boosted its position in AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after acquiring an additional 446 shares during the period. LPL Financial LLC grew its stake in AtriCure by 5.4% during the 4th quarter. LPL Financial LLC now owns 11,465 shares of the medical device company's stock valued at $350,000 after acquiring an additional 584 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of AtriCure by 7.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 11,016 shares of the medical device company's stock valued at $361,000 after purchasing an additional 766 shares during the period. 99.11% of the stock is currently owned by institutional investors.

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.