AtriCure (NASDAQ:ATRC) Reaches New 52-Week Low – Time to Sell?
by Michael Walen · The Markets DailyShares of AtriCure, Inc. (NASDAQ:ATRC – Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $27.26 and last traded at $27.37, with a volume of 786674 shares. The stock had previously closed at $28.79.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on AtriCure from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Canaccord Genuity Group dropped their price target on AtriCure from $64.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Wall Street Zen upgraded AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Sunday, April 5th. Oppenheimer downgraded AtriCure from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Finally, BTIG Research restated a “buy” rating and issued a $54.00 price target on shares of AtriCure in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.
Check Out Our Latest Stock Report on AtriCure
AtriCure Trading Up 2.1%
The stock has a fifty day moving average of $29.93 and a 200 day moving average of $34.76. The company has a market capitalization of $1.43 billion, a P/E ratio of -117.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96.
AtriCure (NASDAQ:ATRC – Get Free Report) last announced its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The company had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $140.50 million. During the same period last year, the firm earned ($0.33) EPS. AtriCure’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts anticipate that AtriCure, Inc. will post 0.1 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Vinayak Doraiswamy sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the transaction, the insider directly owned 96,875 shares of the company’s stock, valued at approximately $2,889,781.25. This trade represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.50% of the company’s stock.
Hedge Funds Weigh In On AtriCure
Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd raised its holdings in AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after purchasing an additional 538 shares during the period. Farther Finance Advisors LLC raised its holdings in 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. bought a new stake in AtriCure during the second quarter valued at about $37,000. Smartleaf Asset Management LLC raised its holdings in AtriCure by 59.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after acquiring an additional 429 shares during the period. Finally, First Horizon Corp bought a new stake in AtriCure during the third quarter valued at about $42,000. 99.11% of the stock is owned by institutional investors.
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.