Insider Selling: AtriCure (NASDAQ:ATRC) Insider Sells 3,000 Shares of Stock

Key Points

• Insider Justin Noznesky sold 3,000 shares of AtriCure at an average price of $36.30, reducing his stake by 3.45% and retaining 83,964 shares valued at over $3 million.
• AtriCure's stock has a market capitalization of $1.75 billion and recently reported a 17.1% increase in quarterly revenue year-over-year, amounting to $136.14 million.
• Analysts have expressed a positive outlook, with a consensus target price of $50.89 and multiple firms upgrading AtriCure's rating to "buy."

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) insider Justin Noznesky sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.30, for a total value of $108,900.00. Following the completion of the sale, the insider directly owned 83,964 shares in the company, valued at $3,047,893.20. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

AtriCure Trading Up 1.8%

ATRC traded up $0.61 during mid-day trading on Tuesday, reaching $35.24. The stock had a trading volume of 38,629 shares, compared to its average volume of 567,817. AtriCure, Inc. has a 52 week low of $25.57 and a 52 week high of $43.11. 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 stock has a market capitalization of $1.75 billion, a P/E ratio of -45.91 and a beta of 1.62. The firm's fifty day simple moving average is $34.41 and its two-hundred day simple moving average is $33.42.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) 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 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 business earned ($0.17) earnings per share. AtriCure's quarterly 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, equities analysts predict that AtriCure, Inc. will post -0.6 EPS for the current year.

Institutional Investors Weigh In On AtriCure

Several hedge funds have recently added to or reduced their stakes in ATRC. Geneos Wealth Management Inc. purchased a new stake in AtriCure in the second quarter worth about $37,000. First Horizon Advisors Inc. raised 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 purchasing an additional 832 shares during the period. US Bancorp DE raised its position 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 valued at $51,000 after purchasing an additional 789 shares during the period. Heck Capital Advisors LLC purchased a new position in AtriCure during the fourth quarter valued at $60,000. Finally, State of Wyoming grew its stake in AtriCure by 21.9% during the fourth quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock valued at $76,000 after acquiring an additional 446 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Needham & Company LLC raised 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. Wall Street Zen raised shares of AtriCure from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, BTIG Research set a $54.00 price objective on shares of AtriCure in a research note on Wednesday, July 30th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $50.89.

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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