AtriCure (NASDAQ:ATRC) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• AtriCure's stock has risen above its 200-day moving average, currently trading at $34.73 with a volume of 242,565 shares.
• Wall Street analysts have mixed views, with nine buy ratings and one sell rating, and a consensus price target of $50.89.
• The company reported a revenue increase of 17.1% year-over-year, with recent earnings per share beating estimates at ($0.02).

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $33.49 and traded as high as $35.75. AtriCure shares last traded at $34.73, with a volume of 242,565 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC lifted their price target on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of AtriCure in a research report on Saturday, September 27th. BTIG Research set a $54.00 price target on shares of AtriCure in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of AtriCure from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.89.

AtriCure Stock Down 0.2%

The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -45.10 and a beta of 1.59. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The firm's 50 day simple moving average is $35.83 and its 200-day simple moving average is $33.49.

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

Insiders Place Their Bets

In related news, Director Regina E. Groves sold 2,452 shares of AtriCure stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total value of $90,282.64. Following the sale, the director directly owned 33,715 shares in the company, valued at $1,241,386.30. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Justin J. Noznesky sold 3,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.30, for a total value of $108,900.00. Following the completion of the transaction, the insider owned 83,964 shares of the company's stock, valued at $3,047,893.20. The trade was a 3.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,952 shares of company stock worth $655,633 over the last quarter. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On AtriCure

A number of institutional investors and hedge funds have recently made changes to their positions in ATRC. Geneos Wealth Management Inc. acquired a new stake in shares of AtriCure in the second quarter valued at about $37,000. First Horizon Advisors Inc. lifted its position in shares of AtriCure by 135.3% during the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock valued at $47,000 after acquiring an additional 832 shares during the period. US Bancorp DE boosted its stake in shares of AtriCure by 98.1% during the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after acquiring an additional 789 shares in the last quarter. CWM LLC grew its holdings in shares of AtriCure by 46.2% in the 1st quarter. CWM LLC now owns 2,818 shares of the medical device company's stock worth $91,000 after acquiring an additional 891 shares during the period. Finally, GAMMA Investing LLC increased its stake in AtriCure by 9,664.9% in the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the medical device company's stock valued at $112,000 after purchasing an additional 3,576 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.

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