Insider Selling: AtriCure, Inc. (NASDAQ:ATRC) Director Sells 6,100 Shares of Stock

AtriCure, Inc. (NASDAQ:ATRC) Director Karen Prange sold 6,100 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the transaction, the director now owns 17,828 shares in the company, valued at $679,603.36. This represents a 25.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $34.52 on Monday. The firm’s 50 day moving average price is $37.85 and its 200-day moving average price is $33.21. AtriCure, Inc. has a twelve month low of $18.94 and a twelve month high of $43.11. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.69 billion, a PE ratio of -36.34 and a beta of 1.53.

Institutional Investors Weigh In On AtriCure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in AtriCure by 1.8% during the 4th quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock worth $414,000 after acquiring an additional 265 shares during the period. Invesco Ltd. raised its stake in AtriCure by 0.8% during the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock worth $1,334,000 after acquiring an additional 334 shares during the period. Perkins Capital Management Inc. raised its stake in AtriCure by 1.3% during the 4th quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock worth $927,000 after acquiring an additional 400 shares during the period. Truist Financial Corp raised its stake in AtriCure by 2.6% during the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after acquiring an additional 403 shares during the period. Finally, State of Wyoming raised its stake 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 period. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ATRC shares. Piper Sandler upped their target price on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. JPMorgan Chase & Co. upped their target price on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Stifel Nicolaus upped their target price on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $51.00 target price on shares of AtriCure in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and an average price target of $51.56.

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.