AtriCure (NASDAQ:ATRC) Trading Down 4.9% - What's Next?

Key Points

• AtriCure, Inc. (NASDAQ:ATRC) shares fell by 4.9% to $33.54, with trading volume drastically declining to 29,531 shares compared to the average of 557,456 shares.
• Analysts have a consensus rating of "Buy" for AtriCure, with a raised target price averaging $50.89, following positive earnings that surpassed estimates with a revenue of $136.14 million.
• Insider transactions revealed that company executives sold shares, with insider Vinayak Doraiswamy reducing his ownership by 3.36%, indicating potential concerns or strategic repositioning within the company.

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) traded down 4.9% during trading on Wednesday . The stock traded as low as $33.97 and last traded at $33.54. 29,531 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 557,456 shares. The stock had previously closed at $35.25.

Wall Street Analyst Weigh In

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

AtriCure Stock Performance

The stock has a 50-day moving average of $35.58 and a 200 day moving average of $33.48. 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 capitalization of $1.70 billion, a P/E ratio of -44.33 and a beta of 1.62.

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 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 company had revenue of $136.14 million during the quarter, compared to analyst estimates of $130.17 million. During the same period last year, the company posted ($0.17) earnings per share. The firm'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, research analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction dated 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 sale, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Regina E. Groves sold 2,452 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total transaction of $90,282.64. Following the sale, the director owned 33,715 shares in the company, valued at approximately $1,241,386.30. The trade was a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,952 shares of company stock valued at $655,633. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ATRC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in AtriCure by 170.8% in the 1st 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 purchasing an additional 1,385,544 shares during the last quarter. Nuveen LLC bought a new stake in shares of AtriCure during the first quarter worth approximately $30,666,000. Jennison Associates LLC bought a new position in shares of AtriCure during the first quarter worth approximately $19,139,000. Osterweis Capital Management Inc. acquired a new stake in AtriCure during the 1st quarter worth approximately $9,536,000. Finally, Millennium Management LLC lifted its holdings in shares of AtriCure by 79.2% during the first quarter. Millennium Management LLC now owns 623,323 shares of the medical device company's stock worth $20,108,000 after buying an additional 275,487 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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