AtriCure (NASDAQ:ATRC) Stock Price Down 6.6% – Time to Sell?

AtriCure, Inc. (NASDAQ:ATRC) was down 6.6% during mid-day trading on Monday . The stock traded as low as $27.24 and last traded at $28.1760. 452,198 shares were traded during trading, a decline of 40% from the average daily volume of 757,332 shares. The stock had previously closed at $30.18.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ATRC shares. Weiss Ratings cut shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Wall Street Zen cut AtriCure from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Freedom Capital upgraded AtriCure to a “strong-buy” rating in a research report on Wednesday, April 1st. Canaccord Genuity Group upped their price target on AtriCure from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and an average target price of $48.71.

AtriCure Stock Down 5.1%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.18 and a current ratio of 4.29. The company’s 50-day moving average price is $28.00 and its 200 day moving average price is $32.41. The stock has a market capitalization of $1.45 billion, a P/E ratio of -285.29 and a beta of 1.26.

Insider Buying and Selling at AtriCure

In other AtriCure news, Director Karen Prange sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $28.65, for a total transaction of $85,950.00. Following the completion of the transaction, the director owned 26,373 shares in the company, valued at $755,586.45. This trade represents a 10.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several large investors have recently bought and sold shares of ATRC. Bank of America Corp DE raised its stake in AtriCure by 13.7% during the first quarter. Bank of America Corp DE now owns 768,561 shares of the medical device company’s stock valued at $21,927,000 after purchasing an additional 92,830 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of AtriCure by 33.3% in the 1st quarter. California State Teachers Retirement System now owns 59,947 shares of the medical device company’s stock valued at $1,710,000 after acquiring an additional 14,987 shares during the last quarter. Quantinno Capital Management LP purchased a new position in AtriCure in the first quarter worth about $277,000. Lazard Asset Management LLC grew its position in AtriCure by 8.6% in the first quarter. Lazard Asset Management LLC now owns 54,015 shares of the medical device company’s stock worth $1,541,000 after acquiring an additional 4,296 shares in the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in AtriCure during the first quarter valued at approximately $719,000. Institutional investors 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.