AtriCure (NASDAQ:ATRC) Sets New 52-Week Low at $22.36

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $22.36 and last traded at $22.40, with a volume of 211706 shares trading hands. The stock had previously closed at $23.20.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $46.00 price target on shares of AtriCure in a report on Wednesday, April 10th. StockNews.com downgraded shares of AtriCure from a "hold" rating to a "sell" rating in a research note on Wednesday, March 27th. UBS Group lifted their price objective on AtriCure from $57.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus reduced their target price on AtriCure from $50.00 to $42.00 and set a "buy" rating on the stock in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.57.

AtriCure Stock Down 2.1 %

The company has a quick ratio of 2.66, a current ratio of 3.57 and a debt-to-equity ratio of 0.15. The company's fifty day moving average price is $30.83 and its 200-day moving average price is $34.18. The stock has a market capitalization of $1.10 billion, a PE ratio of -34.30 and a beta of 1.38.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.01. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The business had revenue of $106.50 million during the quarter, compared to analysts' expectations of $103.68 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The firm's quarterly revenue was up 21.0% compared to the same quarter last year. Analysts forecast that AtriCure, Inc. will post -0.71 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Karl S. Dahlquist sold 8,231 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the transaction, the insider now owns 52,839 shares in the company, valued at $1,974,065.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the transaction, the insider now owns 52,839 shares in the company, valued at approximately $1,974,065.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Justin J. Noznesky sold 1,500 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the transaction, the insider now directly owns 72,784 shares of the company's stock, valued at $2,211,905.76. The disclosure for this sale can be found here. Insiders have sold a total of 13,116 shares of company stock worth $468,797 in the last quarter. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of AtriCure

Large investors have recently modified their holdings of the company. RiverPark Advisors LLC bought a new position in shares of AtriCure in the 3rd quarter worth approximately $27,000. Arcadia Investment Management Corp MI bought a new position in AtriCure in the third quarter worth approximately $28,000. Allspring Global Investments Holdings LLC grew its position in shares of AtriCure by 31.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company's stock valued at $91,000 after acquiring an additional 497 shares during the period. Quest Partners LLC bought a new position in AtriCure in the 4th quarter worth $103,000. Finally, HighMark Wealth Management LLC lifted its position in AtriCure by 175.6% during the third quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company's stock valued at $124,000 after purchasing an additional 1,800 shares in the last quarter. 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.