AtriCure, Inc. (NASDAQ:ATRC) Short Interest Down 8.4% in October

by · The Cerbat Gem

AtriCure, Inc. (NASDAQ:ATRC – Get Free Report) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 3,290,000 shares, a decline of 8.4% from the September 30th total of 3,590,000 shares. Based on an average trading volume of 622,900 shares, the short-interest ratio is presently 5.3 days.

AtriCure Trading Up 18.3 %

ATRC opened at $34.83 on Thursday. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.00. The business’s 50 day moving average is $27.68 and its two-hundred day moving average is $24.37. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -43.54 and a beta of 1.44.

AtriCure (NASDAQ:ATRC – Get Free Report) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. During the same period last year, the firm posted ($0.20) earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, research analysts predict that AtriCure will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Piper Sandler dropped their price objective on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus cut their target price on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, UBS Group upped their price target on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.11.

Get Our Latest Stock Report on AtriCure

Insiders Place Their Bets

In related news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board grew its holdings in shares of AtriCure by 187.7% during the second quarter. Canada Pension Plan Investment Board now owns 110,669 shares of the medical device company’s stock worth $2,520,000 after buying an additional 72,200 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of AtriCure by 115.5% in the 1st quarter. Kennedy Capital Management LLC now owns 227,193 shares of the medical device company’s stock valued at $6,911,000 after purchasing an additional 121,752 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of AtriCure by 12.8% in the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock valued at $3,910,000 after purchasing an additional 19,500 shares during the period. SG Americas Securities LLC acquired a new position in shares of AtriCure in the third quarter valued at approximately $488,000. Finally, Orion Portfolio Solutions LLC raised its stake in shares of AtriCure by 26.7% during the first quarter. Orion Portfolio Solutions LLC now owns 68,121 shares of the medical device company’s stock worth $2,072,000 after purchasing an additional 14,360 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

About AtriCure

(Get Free Report)

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.

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