AtriCure (NASDAQ:ATRC) Sets New 12-Month Low – Should You Sell?

AtriCure, Inc. (NASDAQ:ATRC)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $26.62 and last traded at $26.9660, with a volume of 530025 shares changing hands. The stock had previously closed at $28.48.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ATRC shares. UBS Group dropped their price objective on shares of AtriCure from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. JPMorgan Chase & Co. downgraded shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research report on Wednesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of AtriCure in a report on Thursday, February 12th. Citizens Jmp lowered their target price on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating for the company in a report on Wednesday, February 18th. Finally, Oppenheimer cut shares of AtriCure from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

AtriCure Trading Up 3.2%

The business’s 50-day moving average price is $29.44 and its 200-day moving average price is $34.48. The firm has a market capitalization of $1.47 billion, a PE ratio of -120.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.96 and a quick ratio of 2.99.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. The firm had revenue of $140.50 million during the quarter, compared to the consensus estimate of $140.50 million. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. AtriCure’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.33) EPS. As a group, analysts expect that AtriCure, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Vinayak Doraiswamy sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the transaction, the insider owned 96,875 shares in the company, valued at $2,889,781.25. The trade was a 4.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ATRC. Marshall Wace LLP lifted its holdings in shares of AtriCure by 63.4% during the fourth quarter. Marshall Wace LLP now owns 913,453 shares of the medical device company’s stock worth $36,136,000 after purchasing an additional 354,281 shares during the period. Wellington Management Group LLP increased its stake in AtriCure by 8.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock valued at $151,296,000 after buying an additional 322,818 shares during the period. First Light Asset Management LLC raised its position in AtriCure by 32.0% during the 4th quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock worth $46,501,000 after buying an additional 285,083 shares during the last quarter. Kennedy Capital Management LLC lifted its stake in shares of AtriCure by 36.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock worth $29,501,000 after acquiring an additional 222,529 shares during the period. Finally, Norges Bank acquired a new stake in shares of AtriCure in the 4th quarter worth $8,466,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.