Vinayak Doraiswamy Sells 2,500 Shares of AtriCure, Inc. (NASDAQ:ATRC) Stock

AtriCure, Inc. (NASDAQ:ATRC) insider Vinayak Doraiswamy sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $33.44, for a total transaction of $83,600.00. Following the completion of the transaction, the insider now directly owns 73,550 shares of the company’s stock, valued at $2,459,512. This trade represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AtriCure Trading Up 1.3%

Shares of NASDAQ:ATRC opened at $34.54 on Friday. The company’s 50-day moving average price is $32.29 and its two-hundred day moving average price is $34.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. AtriCure, Inc. has a one year low of $18.94 and a one year high of $43.11. The stock has a market capitalization of $1.71 billion, a PE ratio of -36.36 and a beta of 1.57.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The firm had revenue of $123.62 million for the quarter, compared to analysts’ expectations of $122.92 million. During the same period in the previous year, the firm posted ($0.28) EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts forecast that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On AtriCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its position in AtriCure by 135.3% during the 1st 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. lifted its position in AtriCure by 1,184.1% during the 4th 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 lifted its position in AtriCure by 98.1% during the 1st 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. Heck Capital Advisors LLC bought a new stake in AtriCure during the 4th quarter worth about $60,000. Finally, Venturi Wealth Management LLC lifted its position in AtriCure by 1,337.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after buying an additional 2,100 shares in the last quarter. 99.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ATRC. Wall Street Zen lowered shares of AtriCure from a “buy” rating to a “hold” rating in a report on Sunday. Piper Sandler upped their target price on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. BTIG Research reaffirmed a “buy” rating on shares of AtriCure in a research note on Thursday, March 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of AtriCure in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus upped their target price on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.67.

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.