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

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) traded down 6% on Friday following insider selling activity. The stock traded as low as $34.61 and last traded at $34.07. 67,549 shares changed hands during 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 firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the transaction, the director now directly owns 17,828 shares in the company, valued at $679,603.36. This trade represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Needham & Company LLC reissued a "buy" rating and issued a $51.00 price target on shares of AtriCure in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of AtriCure from $40.00 to $51.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Stifel Nicolaus upped their price objective on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Oppenheimer raised their target price on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, JMP Securities restated a "market outperform" rating and issued a $60.00 price target on shares of AtriCure in a research note on Monday, February 10th. One research 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.

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AtriCure Trading Up 1.2 %

The company's 50 day moving average price is $37.92 and its 200 day moving average price is $33.27. The firm has a market cap of $1.66 billion, a PE ratio of -35.73 and a beta of 1.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62.

Institutional Investors Weigh In On AtriCure

Several large investors have recently bought and sold shares of the stock. Johnson Financial Group Inc. boosted its stake in shares of AtriCure by 1,184.1% in 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 during the period. Heck Capital Advisors LLC acquired a new stake in AtriCure in the fourth quarter valued at approximately $60,000. Venturi Wealth Management LLC lifted its stake in AtriCure by 1,337.6% in the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after acquiring an additional 2,100 shares during the last quarter. KBC Group NV grew its holdings in AtriCure by 65.3% during the 4th quarter. KBC Group NV now owns 2,360 shares of the medical device company's stock worth $72,000 after acquiring an additional 932 shares in the last quarter. Finally, State of Wyoming increased its position in shares of AtriCure by 21.9% in 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. 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.