AtriCure (NASDAQ:ATRC) Shares Down 6% After Insider Selling

AtriCure, Inc. (NASDAQ:ATRC)’s share price traded down 6% on Friday following insider selling activity. The company traded as low as $34.61 and last traded at $34.07. Approximately 67,549 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 663,315 shares. The stock had previously closed at $36.25.

Specifically, Director Karen Prange sold 6,100 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now owns 17,828 shares in the company, valued at approximately $679,603.36. This represents a 25.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Analysts Set New Price Targets

ATRC has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $51.00 price objective on shares of AtriCure in a research note on Thursday, February 13th. Canaccord Genuity Group boosted their price target on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Oppenheimer raised their target price on shares of AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler upped their price target on AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

AtriCure Trading Down 5.7 %

The company’s fifty day moving average is $37.77 and its two-hundred day moving average is $33.00. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -35.73 and a beta of 1.46.

Institutional Investors Weigh In On AtriCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning acquired a new position in shares of AtriCure in the 3rd quarter valued at $321,000. QRG Capital Management Inc. acquired a new position in AtriCure in the third quarter valued at $276,000. Royce & Associates LP raised its holdings in shares of AtriCure by 8.0% in the third quarter. Royce & Associates LP now owns 64,785 shares of the medical device company’s stock valued at $1,817,000 after buying an additional 4,800 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of AtriCure during the third quarter worth about $880,000. Finally, Commerce Bank grew its holdings in shares of AtriCure by 23.5% during the third quarter. Commerce Bank now owns 11,470 shares of the medical device company’s stock worth $322,000 after buying an additional 2,181 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.