AtriCure (NASDAQ:ATRC) Stock Price Down 5.8% - Here's What Happened

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report)'s stock price dropped 5.8% on Thursday . The stock traded as low as $38.84 and last traded at $39.92. 176,945 shares traded hands during trading, a decline of 69% from the average session volume of 569,972 shares. The stock had previously closed at $42.36.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ATRC shares. Needham & Company LLC reiterated a "buy" rating and issued a $51.00 target price on shares of AtriCure in a report on Thursday. Canaccord Genuity Group upped their price objective on shares of AtriCure from $61.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of AtriCure from $40.00 to $51.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Oppenheimer boosted their price target on shares of AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Piper Sandler increased their price objective on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $51.56.

AtriCure Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The stock has a market capitalization of $2.00 billion, a P/E ratio of -49.33 and a beta of 1.46. The stock's fifty day moving average is $35.76 and its 200-day moving average is $31.50.

Institutional Trading of AtriCure

Several large investors have recently made changes to their positions in the stock. ProShare Advisors LLC raised its stake in shares of AtriCure by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 13,330 shares of the medical device company's stock valued at $407,000 after acquiring an additional 4,385 shares in the last quarter. Man Group plc bought a new position in shares of AtriCure in the fourth quarter valued at approximately $745,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of AtriCure by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,916 shares of the medical device company's stock worth $823,000 after buying an additional 1,013 shares during the last quarter. LMR Partners LLP bought a new stake in shares of AtriCure during the 4th quarter worth $499,000. Finally, Graham Capital Management L.P. bought a new stake in shares of AtriCure during the 4th quarter worth $649,000. 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.