AtriCure (NASDAQ:ATRC) Sets New 52-Week Low – Here’s Why

AtriCure, Inc. (NASDAQ:ATRC)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $28.18 and last traded at $28.5380, with a volume of 43613 shares. The stock had previously closed at $28.88.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ATRC shares. Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, January 21st. Wall Street Zen cut shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of AtriCure in a research report on Thursday, February 12th. Citigroup restated an “outperform” rating on shares of AtriCure in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. cut shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Wednesday, February 11th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.43.

AtriCure Price Performance

The firm has a 50-day simple moving average of $32.74 and a 200-day simple moving average of $35.53. The firm has a market capitalization of $1.42 billion, a PE ratio of -118.88 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.96 and a quick ratio of 2.99.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results 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 analyst estimates of $140.50 million. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.33) EPS. As a group, equities analysts forecast that AtriCure, Inc. will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In other AtriCure news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were 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 in the company, valued at approximately $2,889,781.25. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Marshall Wace LLP lifted its position in AtriCure by 63.4% during the fourth quarter. Marshall Wace LLP now owns 913,453 shares of the medical device company’s stock valued at $36,136,000 after purchasing an additional 354,281 shares in the last quarter. Wellington Management Group LLP increased its position in AtriCure by 8.1% in the third quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock worth $151,296,000 after buying an additional 322,818 shares in the last quarter. First Light Asset Management LLC raised its stake in shares of AtriCure by 32.0% in the fourth quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock worth $46,501,000 after buying an additional 285,083 shares during the period. Kennedy Capital Management LLC raised its stake in shares of AtriCure by 36.2% in the third quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock worth $29,501,000 after buying an additional 222,529 shares during the period. Finally, Norges Bank purchased a new position in shares of AtriCure during the 4th quarter valued at about $8,466,000. 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.