AtriCure (NASDAQ:ATRC) Reaches New 12-Month High - Here's Why

Key Points

• AtriCure shares reached a new 52-week high of $61.74 and were recently trading near $61.55, up from the prior close of $61.08.
• Analyst sentiment is mixed: BTIG Research raised its price target to $63 with a buy rating, while the consensus rating remains “Hold” with an average target of $55.70.
• Institutional investors own 99.11% of AtriCure’s shares, while company insiders sold 43,868 shares worth approximately $2.14 million over the past 90 days.

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) reached a new 52-week high on Tuesday. The company traded as high as $61.74 and last traded at $61.5450, with a volume of 308,349 shares. The stock had previously closed at $61.08.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BTIG Research increased their price objective on shares of AtriCure from $55.00 to $63.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Zacks Research cut shares of AtriCure from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Citigroup reissued a "market outperform" rating on shares of AtriCure in a research report on Wednesday, October 21st. Piper Sandler upped their target price on shares of AtriCure from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Finally, Weiss Ratings raised shares of AtriCure from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $55.70.

AtriCure Trading Up 0.8%

The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 293.50 and a beta of 1.24. The business's 50 day moving average price is $54.36 and its 200-day moving average price is $37.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 4.22.

Insider Transactions at AtriCure

In other AtriCure news, Director Regina Groves sold 5,313 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $54.22, for a total transaction of $288,070.86. Following the sale, the director owned 34,546 shares in the company, valued at $1,873,084.12. This represents a 13.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen Prange sold 3,564 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $38.80, for a total value of $138,283.20. Following the sale, the director owned 22,809 shares in the company, valued at $884,989.20. The trade was a 13.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,868 shares of company stock valued at $2,138,617 over the last 90 days. Corporate insiders own 4.00% of the company's stock.

Institutional Investors Weigh In On AtriCure

Several institutional investors and hedge funds have recently made changes to their positions in ATRC. Verdence Capital Advisors LLC bought a new position in AtriCure during the third quarter worth $231,000. Sterling Capital Management LLC increased its stake in AtriCure by 841.1% during the third quarter. Sterling Capital Management LLC now owns 1,647 shares of the medical device company's stock valued at $93,000 after purchasing an additional 1,472 shares during the last quarter. Yousif Capital Management LLC bought a new stake in AtriCure during the third quarter valued at $762,000. Net Worth Advisory Group bought a new stake in AtriCure during the third quarter valued at $305,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of AtriCure by 265.6% during the third quarter. State of Alaska Department of Revenue now owns 10,497 shares of the medical device company's stock worth $589,000 after purchasing an additional 7,626 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Company Profile

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company's product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.

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