AtriCure Inc. (ATRC) Sees Strong Trading Volume
AtriCure Inc. (NASDAQ:ATRC) shares saw unusually-high trading volume on Friday . Approximately 391,038 shares were traded during mid-day 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.
ATRC has been the subject of a number of research analyst reports. JMP Securities initiated coverage on AtriCure in a research note on Thursday, June 30th. They issued an “outperform” rating and a $25.00 target price for the company. Canaccord Genuity reissued a “buy” rating on shares of AtriCure in a research note on Tuesday, July 12th. Zacks Investment Research cut AtriCure from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. TheStreet cut AtriCure from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating on shares of AtriCure in a research note on Saturday, April 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.71.
The company’s 50 day moving average price is $15.00 and its 200 day moving average price is $16.04. The stock’s market cap is $502.70 million.
AtriCure (NASDAQ:ATRC) last announced its earnings results on Thursday, April 28th. The medical device company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. During the same period in the prior year, the business earned ($0.19) earnings per share. The company had revenue of $35.90 million for the quarter, compared to the consensus estimate of $36.08 million. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities research analysts anticipate that AtriCure Inc. will post ($1.19) EPS for the current year.
A number of hedge funds and institutional investors recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of 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 in the last quarter. Victory Capital Management Inc. raised its position in shares of 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 in the last quarter. Finally, Paradigm Capital Management Inc. NY raised its position in shares of 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 in the last quarter.
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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