AtriCure (NASDAQ:ATRC) Reaches New 12-Month Low – Time to Sell?

AtriCure, Inc. (NASDAQ:ATRC) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $27.26 and last traded at $27.5550, with a volume of 44345 shares traded. The stock had previously closed at $28.22.

Wall Street Analyst Weigh In

ATRC has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research report on Wednesday, February 11th. BTIG Research reaffirmed a “buy” rating and set a $54.00 price target on shares of AtriCure in a research report on Wednesday, February 18th. Citizens Jmp cut their price target on AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 18th. UBS Group reduced their price objective on AtriCure from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, Wall Street Zen raised AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.43.

AtriCure Trading Down 2.2%

The company has a 50 day simple moving average of $31.54 and a 200 day simple moving average of $35.24. The company has a current ratio of 3.96, a quick ratio of 2.99 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.38 billion, a PE ratio of -115.27 and a beta of 1.43.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. The firm had revenue of $140.50 million during the quarter, compared to the consensus estimate of $140.50 million. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.33) EPS. Analysts predict that AtriCure, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AtriCure news, insider Vinayak Doraiswamy sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the transaction, the insider owned 96,875 shares in the company, valued at approximately $2,889,781.25. The trade was a 4.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AtriCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its position in AtriCure by 6.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the medical device company’s stock worth $218,000 after purchasing an additional 380 shares during the period. Smartleaf Asset Management LLC increased its position in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock worth $46,000 after purchasing an additional 429 shares during the period. Scotia Capital Inc. increased its position in AtriCure by 1.2% during the 3rd quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company’s stock worth $1,328,000 after purchasing an additional 457 shares during the period. First Bank & Trust increased its position in AtriCure by 6.0% during the 4th quarter. First Bank & Trust now owns 8,805 shares of the medical device company’s stock worth $348,000 after purchasing an additional 495 shares during the period. Finally, Aster Capital Management DIFC Ltd increased its position in AtriCure by 197.1% during 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. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.