AtriCure (NASDAQ:ATRC) Reaches New 12-Month Low - Here's Why

Key Points

• AtriCure shares hit a new 52-week low, falling to as low as $26.08 intraday before last trading around $26.30, down from the prior close of $27.80.
• Despite the stock weakness, recent analyst sentiment remains mostly constructive: the company has a Moderate Buy consensus rating, with an average price target of $48.71, though some firms have recently trimmed their targets.
• In its latest earnings report, AtriCure beat EPS and revenue expectations, posting break-even EPS versus an expected loss and revenue of $141.25 million, up 14.3% year over year.

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $26.08 and last traded at $26.2950, with a volume of 510265 shares trading hands. The stock had previously closed at $27.80.

Wall Street Analyst Weigh In

Several brokerages have commented on ATRC. Canaccord Genuity Group raised their target price on AtriCure from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday. BTIG Research reiterated a "buy" rating and set a $54.00 price target on shares of AtriCure in a research report on Wednesday, February 18th. Citizens Jmp lowered their price target on shares of AtriCure from $60.00 to $52.00 and set a "market outperform" rating on the stock in a report on Wednesday, February 18th. UBS Group cut their price objective on shares of AtriCure from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. Finally, Weiss Ratings cut shares of AtriCure from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $48.71.

AtriCure Price Performance

The company has a current ratio of 3.96, a quick ratio of 2.99 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.33 billion, a P/E ratio of -262.51 and a beta of 1.28. The business's fifty day moving average price is $29.24 and its 200-day moving average price is $34.28.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its earnings results on Tuesday, May 5th. The medical device company reported $0.00 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.07. AtriCure had a positive return on equity of 0.29% and a negative net margin of 0.83%.The business had revenue of $141.25 million for the quarter, compared to analysts' expectations of $139.75 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. AtriCure has set its FY 2026 guidance at 0.000-0.040 EPS. As a group, sell-side analysts predict that AtriCure, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the transaction, the insider directly owned 96,875 shares in the company, valued at approximately $2,889,781.25. This represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company's stock.

Institutional Trading of AtriCure

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oak Harvest Investment Services purchased a new stake in shares of AtriCure in the 4th quarter valued at $1,484,000. Massachusetts Financial Services Co. MA grew its holdings in shares of AtriCure by 20.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 511,213 shares of the medical device company's stock valued at $20,224,000 after purchasing an additional 86,532 shares during the last quarter. Riverwater Partners LLC raised its position in AtriCure by 79.2% in the 3rd quarter. Riverwater Partners LLC now owns 60,322 shares of the medical device company's stock worth $2,126,000 after purchasing an additional 26,657 shares during the period. Citigroup Inc. raised its position in AtriCure by 182.0% in the 3rd quarter. Citigroup Inc. now owns 57,085 shares of the medical device company's stock worth $2,012,000 after purchasing an additional 36,839 shares during the period. Finally, Semanteon Capital Management LP bought a new stake in AtriCure in the third quarter worth $564,000. Hedge funds and other institutional investors own 99.11% of the company's stock.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company's solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company's product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.