Justin J. Noznesky Sells 1,500 Shares of AtriCure, Inc. (NASDAQ:ATRC) Stock

AtriCure, Inc. (NASDAQ:ATRC) insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total value of $36,135.00. Following the completion of the sale, the insider now directly owns 71,284 shares of the company’s stock, valued at approximately $1,717,231.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

AtriCure Stock Performance

NASDAQ ATRC opened at $20.89 on Friday. The company’s fifty day moving average is $28.81 and its two-hundred day moving average is $33.11. AtriCure, Inc. has a 52-week low of $20.19 and a 52-week high of $59.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66. The firm has a market capitalization of $994.16 million, a price-to-earnings ratio of -26.11 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last released its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The firm had revenue of $108.90 million for the quarter, compared to analyst estimates of $106.86 million. AtriCure had a negative return on equity of 7.82% and a negative net margin of 8.98%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business earned ($0.23) earnings per share. Equities research analysts forecast that AtriCure, Inc. will post -0.71 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Tuesday, April 23rd. UBS Group boosted their price objective on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Canaccord Genuity Group decreased their price objective on shares of AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus dropped their target price on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Needham & Company LLC decreased their price target on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.78.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ATRC. GSA Capital Partners LLP boosted its stake in AtriCure by 65.7% during the first quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock worth $1,089,000 after buying an additional 14,194 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of AtriCure during the 1st quarter worth about $258,000. Norden Group LLC acquired a new stake in shares of AtriCure during the 1st quarter valued at about $440,000. WCM Investment Management LLC increased its stake in AtriCure by 0.6% in the first quarter. WCM Investment Management LLC now owns 222,843 shares of the medical device company’s stock valued at $6,779,000 after acquiring an additional 1,427 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in AtriCure by 71.6% in the first quarter. Assenagon Asset Management S.A. now owns 444,801 shares of the medical device company’s stock worth $13,531,000 after purchasing an additional 185,632 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.