AtriCure, Inc. (NASDAQ:ATRC) Director Sells $90,282.64 in Stock

Key Points

• Director Regina E. Groves sold 2,452 shares of AtriCure, Inc. stock for approximately $90,283, decreasing her ownership stake by 6.78% to 33,715 shares valued at about $1.24 million.
• AtriCure reported a 17.1% increase in quarterly revenue, reaching $136.14 million, while earnings per share were better than analysts expected, coming in at ($0.02) versus consensus estimates of ($0.15).
• The company's stock has received multiple buy ratings from analysts, with a consensus target price of $50.89, indicating positive sentiment in the market.

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

AtriCure Stock Performance

NASDAQ:ATRC traded up $0.35 during mid-day trading on Tuesday, reaching $35.84. 514,200 shares of the company's stock were exchanged, compared to its average volume of 593,682. AtriCure, Inc. has a one year low of $21.27 and a one year 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 business's fifty day simple moving average is $32.65 and its two-hundred day simple moving average is $34.13. The firm has a market capitalization of $1.78 billion, a PE ratio of -46.54 and a beta of 1.61.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. The business had revenue of $136.14 million during the quarter, compared to analysts' expectations of $130.17 million. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.20%. The business's revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.17) EPS. Analysts anticipate that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AtriCure

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its position in AtriCure by 135.3% during the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after purchasing an additional 832 shares in the last quarter. Johnson Financial Group Inc. grew its holdings in AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after acquiring an additional 1,492 shares during the last quarter. US Bancorp DE grew its holdings in AtriCure by 98.1% during the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after acquiring an additional 789 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in AtriCure during the 4th quarter worth approximately $60,000. Finally, State of Wyoming grew its holdings in AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock worth $76,000 after acquiring an additional 446 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on ATRC shares. UBS Group lowered their price objective on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. JMP Securities restated a "market outperform" rating and set a $60.00 price objective on shares of AtriCure in a research note on Wednesday, April 30th. Needham & Company LLC boosted their price objective on shares of AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of AtriCure from a "hold" rating to a "buy" rating in a research note 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. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $50.89.

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.