AtriCure (NASDAQ:ATRC) Sets New 52-Week High – Should You Buy?
by Teresa Graham · The Cerbat GemAtriCure, Inc. (NASDAQ:ATRC – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $43.18 and last traded at $42.9330, with a volume of 145878 shares. The stock had previously closed at $41.77.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on ATRC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of AtriCure in a research note on Thursday, October 30th. Canaccord Genuity Group upped their price objective on shares of AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Zacks Research raised AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.44.
Read Our Latest Stock Analysis on AtriCure
AtriCure Price Performance
The company has a current ratio of 3.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -69.52 and a beta of 1.40. The company has a 50 day moving average of $37.36 and a 200 day moving average of $35.62.
AtriCure (NASDAQ:ATRC – Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.54%. The firm had revenue of $134.27 million for the quarter, compared to analyst estimates of $131.25 million. During the same period in the previous year, the business earned ($0.17) EPS. The company’s revenue was up 15.8% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. Equities research analysts predict that AtriCure, Inc. will post -0.6 EPS for the current fiscal year.
Insider Buying and Selling
In other AtriCure news, Director Maggie Yuen sold 3,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $35.72, for a total value of $107,160.00. Following the completion of the transaction, the director owned 11,371 shares in the company, valued at $406,172.12. This represents a 20.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin J. Noznesky sold 5,166 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total value of $192,640.14. Following the completion of the transaction, the insider owned 78,798 shares in the company, valued at approximately $2,938,377.42. The trade was a 6.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,166 shares of company stock valued at $676,378 over the last ninety days. 3.50% of the stock is owned by corporate insiders.
Institutional Trading of AtriCure
A number of hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd lifted its position in AtriCure by 197.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 538 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of AtriCure by 1,818.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after purchasing an additional 1,073 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of AtriCure during the 2nd quarter valued at about $37,000. First Horizon Corp purchased a new stake in AtriCure in the 3rd quarter worth $42,000. Finally, CWM LLC raised its holdings in AtriCure by 36.6% during the 3rd quarter. CWM LLC now owns 2,587 shares of the medical device company’s stock valued at $91,000 after buying an additional 693 shares during the period. Institutional investors own 99.11% of the company’s stock.
AtriCure Company Profile
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.