AtriCure (NASDAQ:ATRC) Sets New 52-Week Low - Here's Why

Key Points

• AtriCure hit a new 52-week low of $27.26 (last $27.37) on Tuesday, with about 786,674 shares traded.
• Analysts are mixed but the consensus is a "Moderate Buy" with an average price target of $48.43, though several firms recently trimmed targets while one upgraded to a strong-buy.
• In the latest quarter AtriCure beat EPS estimates ($0.06 vs. -$0.04) and reported revenue of $140.5M (up 13.1% YoY), yet the company remains unprofitable with a negative net margin and negative return on equity.

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $27.26 and last traded at $27.37, with a volume of 786674 shares. The stock had previously closed at $28.79.

Analyst Ratings Changes

ATRC has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $45.00 price target on shares of AtriCure in a research note on Thursday, February 12th. UBS Group lowered 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. Weiss Ratings reissued a "sell (d-)" rating on shares of AtriCure in a research note on Wednesday, January 21st. Wall Street Zen raised shares of AtriCure from a "buy" rating to a "strong-buy" rating in a research note on Sunday, April 5th. Finally, Citizens Jmp lowered their price target on shares of AtriCure from $60.00 to $52.00 and set a "market outperform" rating for the company in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AtriCure presently has a consensus rating of "Moderate Buy" and an average price target of $48.43.

AtriCure Price Performance

The company has a 50 day moving average price of $30.24 and a 200-day moving average price of $34.87. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -114.04 and a beta of 1.43. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The business had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.50 million. During the same period last year, the company earned ($0.33) EPS. The firm's revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts predict that AtriCure, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at AtriCure

In related news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the completion of the sale, the insider directly owned 96,875 shares in the company, valued at $2,889,781.25. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AtriCure

Institutional investors have recently made changes to their positions in the stock. Diversified Trust Co increased its stake in shares of AtriCure by 7.1% in the first quarter. Diversified Trust Co now owns 40,090 shares of the medical device company's stock valued at $1,144,000 after buying an additional 2,654 shares during the period. Hsbc Holdings PLC boosted its holdings in AtriCure by 13.3% in the fourth quarter. Hsbc Holdings PLC now owns 17,224 shares of the medical device company's stock valued at $686,000 after acquiring an additional 2,028 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in AtriCure by 43.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,983 shares of the medical device company's stock valued at $158,000 after purchasing an additional 1,205 shares during the period. Invesco Ltd. raised its holdings in AtriCure by 7.9% during the 4th quarter. Invesco Ltd. now owns 74,435 shares of the medical device company's stock worth $2,945,000 after purchasing an additional 5,462 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of AtriCure by 5.3% in the 4th quarter. Mackenzie Financial Corp now owns 13,597 shares of the medical device company's stock worth $545,000 after purchasing an additional 683 shares during the period. 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.

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