Justin J. Noznesky Sells 1,500 Shares of AtriCure, Inc. (NASDAQ:ATRC) Stock

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) insider Justin J. Noznesky sold 1,500 shares of the business's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total value of $36,135.00. Following the sale, the insider now directly owns 71,284 shares of the company's stock, valued at $1,717,231.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

AtriCure Trading Down 6.0 %

Shares of AtriCure stock traded down $1.33 during trading hours on Friday, hitting $20.89. The company's stock had a trading volume of 961,860 shares, compared to its average volume of 713,372. AtriCure, Inc. has a 12 month low of $20.19 and a 12 month high of $59.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66. The company has a market capitalization of $1.01 billion, a PE ratio of -26.11 and a beta of 1.41. The stock has a 50 day moving average of $28.81 and a 200 day moving average of $33.13.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.02). AtriCure had a negative return on equity of 7.82% and a negative net margin of 8.98%. The business had revenue of $108.90 million for the quarter, compared to the consensus estimate of $106.86 million. During the same period in the previous year, the company posted ($0.23) earnings per share. AtriCure's revenue for the quarter was up 16.5% compared to the same quarter last year. Analysts predict that AtriCure, Inc. will post -0.71 earnings per share for the current year.

Institutional Investors Weigh In On AtriCure

Several institutional investors have recently added to or reduced their stakes in the stock. Advisors Capital Management LLC lifted its stake in AtriCure by 0.6% in the 3rd quarter. Advisors Capital Management LLC now owns 57,223 shares of the medical device company's stock valued at $2,506,000 after acquiring an additional 357 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of AtriCure by 3.5% in the third quarter. Principal Financial Group Inc. now owns 11,839 shares of the medical device company's stock worth $519,000 after purchasing an additional 395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of AtriCure by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company's stock worth $758,000 after purchasing an additional 484 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in AtriCure by 31.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company's stock worth $91,000 after purchasing an additional 497 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its position in AtriCure by 0.7% in the third quarter. Eagle Asset Management Inc. now owns 81,300 shares of the medical device company's stock valued at $3,561,000 after purchasing an additional 593 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ATRC has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of AtriCure from $57.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. JPMorgan Chase & Co. cut their price target on AtriCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research note on Thursday. Stifel Nicolaus decreased their price objective on AtriCure from $50.00 to $42.00 and set a "buy" rating for the company in a research note on Friday, February 16th. Canaccord Genuity Group cut their target price on AtriCure from $57.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, StockNews.com cut AtriCure from a "hold" rating to a "sell" rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.78.

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.