AtriCure (NASDAQ:ATRC) Shares Down 5.9% - Here's What Happened

Key Points

• AtriCure's stock fell by 5.9% to $35.35 during mid-day trading, with trading volume decreasing by 22% compared to its average.
• Analysts have a favorable outlook on AtriCure, with the average price target set at $50.89 and nine analysts rating the stock as a "Buy".
• The company reported positive quarterly earnings, outperforming estimates with revenue of $136.14 million and an improved EPS of ($0.02).

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) traded down 5.9% on Friday . The stock traded as low as $35.36 and last traded at $35.35. 441,642 shares traded hands during trading, a decline of 22% from the average session volume of 568,889 shares. The stock had previously closed at $37.56.

Analyst Upgrades and Downgrades

ATRC has been the subject of several recent research reports. Needham & Company LLC increased their price objective on AtriCure from $44.00 to $45.00 and gave the company 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 report on Saturday, August 2nd. Finally, BTIG Research set a $54.00 price target on AtriCure in a report on Wednesday, July 30th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $50.89.

AtriCure Stock Down 2.6%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 3.94. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -45.47 and a beta of 1.62. The firm has a 50-day moving average price of $34.56 and a two-hundred day moving average price of $33.45.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its earnings results 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. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The company had revenue of $136.14 million for the quarter, compared to the consensus estimate of $130.17 million. During the same period last year, the business posted ($0.17) EPS. The company's revenue was up 17.1% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. On average, sell-side analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insider Transactions at AtriCure

In other news, 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 $2,629,077.76. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sven Wehrwein sold 5,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $37.00, for a total value of $185,000.00. Following the completion of the transaction, the director directly owned 34,374 shares of the company's stock, valued at approximately $1,271,838. This trade represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,952 shares of company stock valued at $655,633. Company insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in AtriCure by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,714,371 shares of the medical device company's stock valued at $152,086,000 after purchasing an additional 61,166 shares during the last quarter. Hood River Capital Management LLC raised its stake in AtriCure by 2.1% during the second quarter. Hood River Capital Management LLC now owns 3,061,059 shares of the medical device company's stock valued at $100,311,000 after buying an additional 61,852 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in AtriCure by 170.8% during the first 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 valued at $70,872,000 after buying an additional 1,385,544 shares in the last quarter. Neuberger Berman Group LLC raised its stake in AtriCure by 0.3% during the second quarter. Neuberger Berman Group LLC now owns 1,189,739 shares of the medical device company's stock valued at $38,969,000 after buying an additional 3,674 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in AtriCure by 1.2% during the second quarter. Geode Capital Management LLC now owns 1,181,737 shares of the medical device company's stock valued at $38,731,000 after buying an additional 14,577 shares in the last quarter. 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.