AtriCure Inc. (ATRC) Sees Unusually-High Trading Volume
AtriCure Inc. (NASDAQ:ATRC) saw unusually-strong trading volume on Friday . Approximately 391,038 shares changed hands during trading, an increase of 114% from the previous session’s volume of 183,061 shares.The stock last traded at $15.20 and had previously closed at $14.72.
A number of equities analysts have weighed in on ATRC shares. Canaccord Genuity reaffirmed a “buy” rating on shares of AtriCure in a research note on Tuesday, July 12th. Zacks Investment Research raised shares of AtriCure from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating on shares of AtriCure in a research note on Saturday, April 30th. JMP Securities started coverage on shares of AtriCure in a research note on Thursday, June 30th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, TheStreet downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $24.00.
The stock has a 50 day moving average of $15.00 and a 200-day moving average of $16.04. The stock’s market cap is $502.70 million.
AtriCure (NASDAQ:ATRC) last released its earnings results on Thursday, April 28th. The medical device company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.01. The firm earned $35.90 million during the quarter, compared to analysts’ expectations of $36.08 million. The business’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the business earned ($0.19) earnings per share. On average, analysts expect that AtriCure Inc. will post ($1.19) earnings per share for the current fiscal year.
Several hedge funds and institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in AtriCure by 15.3% in the fourth quarter. Victory Capital Management Inc. now owns 51,647 shares of the medical device company’s stock valued at $1,159,000 after buying an additional 6,845 shares during the period. Paradigm Capital Management Inc. NY increased its position in AtriCure by 108.3% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 247,525 shares of the medical device company’s stock valued at $5,554,000 after buying an additional 128,700 shares during the period. Finally, Wells Fargo & Company MN increased its position in AtriCure by 20.2% in the fourth quarter. Wells Fargo & Company MN now owns 659,070 shares of the medical device company’s stock valued at $14,789,000 after buying an additional 110,890 shares during the period.
AtriCure, Inc is a medical device company providing atrial fibrillation (Afib) solutions. The Company’s segment develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. The Company has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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