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).

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

Wall Street Analyst Weigh In

Several research analysts have commented on ATRC shares. Wall Street Zen raised shares of AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. BTIG Research set a $54.00 price target on shares of AtriCure in a research note on Wednesday, July 30th. Finally, Needham & Company LLC increased their price target on shares of AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, AtriCure presently has an average rating of "Buy" and an average price target of $50.89.

AtriCure Stock Performance

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 business has a 50-day moving average price of $34.28 and a 200 day moving average price of $33.56. The stock has a market capitalization of $1.76 billion, a P/E ratio of -45.91 and a beta of 1.62.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly 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 analysts' expectations of $130.17 million. During the same period in the previous year, the firm posted ($0.17) EPS. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, sell-side analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Insider Activity

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction that occurred 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 sale, the insider owned 71,872 shares in the company, valued at $2,629,077.76. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sven Wehrwein sold 5,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $37.00, for a total transaction of $185,000.00. Following the sale, the director owned 34,374 shares in the company, valued at approximately $1,271,838. The trade was a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,952 shares of company stock worth $546,733 over the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Trading of AtriCure

A number of large investors have recently made changes to their positions in ATRC. Northern Trust Corp increased its position in shares of AtriCure by 11.6% during the 4th quarter. Northern Trust Corp now owns 483,607 shares of the medical device company's stock valued at $14,779,000 after purchasing an additional 50,153 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of AtriCure in the fourth quarter worth approximately $295,000. BNP Paribas Financial Markets boosted its holdings in shares of AtriCure by 676.4% in the fourth quarter. BNP Paribas Financial Markets now owns 97,310 shares of the medical device company's stock worth $2,974,000 after buying an additional 84,776 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of AtriCure in the fourth quarter worth approximately $498,000. Finally, Graham Capital Management L.P. purchased a new position in shares of AtriCure in the fourth quarter worth approximately $649,000. 99.11% of the stock is currently owned by institutional investors.

About AtriCure

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.

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