AtriCure, Inc. (NASDAQ:ATRC) Short Interest Down 21.2% in March

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,340,000 shares, a decline of 21.2% from the March 15th total of 1,700,000 shares. Currently, 2.8% of the company's shares are short sold. Based on an average daily trading volume, of 612,800 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the sale, the director now owns 17,828 shares of the company's stock, valued at $679,603.36. This represents a 25.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is owned by insiders.

Institutional Trading of AtriCure

Hedge funds have recently made changes to their positions in the stock. Johnson Financial Group Inc. increased its position in AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock valued at $49,000 after buying an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of AtriCure in the 4th quarter worth about $60,000. Venturi Wealth Management LLC boosted its stake in AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after purchasing an additional 2,100 shares in the last quarter. KBC Group NV grew its position in AtriCure by 65.3% during the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock valued at $72,000 after purchasing an additional 932 shares during the last quarter. Finally, State of Wyoming grew its position in AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company's stock valued at $76,000 after purchasing an additional 446 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

AtriCure Stock Up 1.6 %

NASDAQ:ATRC traded up $0.52 during mid-day trading on Wednesday, hitting $32.49. 449,740 shares of the company's stock were exchanged, compared to its average volume of 653,730. The company has a market cap of $1.59 billion, a PE ratio of -34.20 and a beta of 1.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. AtriCure has a one year low of $18.94 and a one year high of $43.11. The business has a fifty day moving average price of $34.56 and a 200 day moving average price of $34.46.

Analysts Set New Price Targets

Several research firms recently issued reports on ATRC. JMP Securities reissued a "market outperform" rating and issued a $60.00 target price on shares of AtriCure in a research note on Monday, February 10th. Oppenheimer boosted their target price on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Canaccord Genuity Group dropped their price target on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and set a $51.00 price objective on shares of AtriCure in a research report on Thursday, March 27th. Finally, Piper Sandler raised their target price on shares of AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $49.44.

About AtriCure

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.