AtriCure, Inc. (NASDAQ:ATRC) Short Interest Update

Key Points

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AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 2,220,000 shares, anincreaseof46.1% from the July 15th total of 1,520,000 shares. Approximately4.6% of the company's stock are sold short. Based on an average daily trading volume, of 546,100 shares, the short-interest ratio is presently 4.1 days. Based on an average daily trading volume, of 546,100 shares, the short-interest ratio is presently 4.1 days. Approximately4.6% of the company's stock are sold short.

AtriCure Stock Performance

Shares of AtriCure stock traded up $1.93 during trading on Friday, reaching $37.66. The company's stock had a trading volume of 525,425 shares, compared to its average volume of 719,676. 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 moving average price is $33.05 and its 200-day moving average price is $33.88. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -48.91 and a beta of 1.61. AtriCure has a one year low of $24.48 and a one year high of $43.11.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.13. The business had revenue of $136.14 million for the quarter, compared to analyst estimates of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The firm's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. As a group, equities research analysts predict that AtriCure will post -0.6 earnings per share for the current year.

Insider Transactions at AtriCure

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total value of $91,450.00. Following the completion of the sale, the insider owned 71,872 shares of the company's stock, valued at $2,629,077.76. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Regina E. Groves sold 2,452 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $36.82, for a total value of $90,282.64. Following the sale, the director owned 33,715 shares of the company's stock, valued at approximately $1,241,386.30. This represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,452 shares of company stock valued at $445,333 over the last quarter. Company insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On AtriCure

Institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in AtriCure during the second quarter worth about $37,000. First Horizon Advisors Inc. grew its position in AtriCure by 135.3% during the first quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after buying an additional 832 shares in the last quarter. Johnson Financial Group Inc. grew its position in AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after buying an additional 1,492 shares in the last quarter. US Bancorp DE grew its position in AtriCure by 98.1% during the first quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after buying an additional 789 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in AtriCure during the fourth quarter worth about $60,000. 99.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ATRC shares. UBS Group cut their price objective on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wall Street Zen upgraded AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. BTIG Research set a $54.00 target price on AtriCure in a report on Wednesday, July 30th. JMP Securities restated a "market outperform" rating and set a $60.00 target price on shares of AtriCure in a report on Wednesday, April 30th. Finally, Needham & Company LLC raised their target price on AtriCure from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, AtriCure currently has a consensus rating of "Buy" and an average price target 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.