AtriCure (NASDAQ:ATRC) Stock Price Down 4.9% - Should You Sell?

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report)'s share price fell 4.9% during mid-day trading on Thursday . The company traded as low as $40.05 and last traded at $40.32. 158,771 shares were traded during mid-day trading, a decline of 74% from the average session volume of 610,974 shares. The stock had previously closed at $42.40.

Wall Street Analysts Forecast Growth

ATRC has been the topic of several research reports. Oppenheimer boosted their price target on AtriCure from $32.00 to $36.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $40.00 target price on shares of AtriCure in a research report on Tuesday, December 17th. UBS Group raised their target price on shares of AtriCure from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their target price on shares of AtriCure from $40.00 to $51.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Finally, Canaccord Genuity Group boosted their price target on shares of AtriCure from $53.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.38.

AtriCure Price Performance

The stock has a market capitalization of $1.94 billion, a PE ratio of -47.83 and a beta of 1.46. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The stock's 50-day moving average is $34.72 and its 200 day moving average is $30.25.

Institutional Investors Weigh In On AtriCure

A number of institutional investors have recently made changes to their positions in ATRC. Arcadia Investment Management Corp MI bought a new position in shares of AtriCure during the 3rd quarter worth $28,000. Heck Capital Advisors LLC purchased a new position in shares of AtriCure during the 4th quarter worth approximately $60,000. Venturi Wealth Management LLC grew its holdings 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 purchasing an additional 2,100 shares during the period. KBC Group NV increased 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 buying an additional 932 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in AtriCure during the 4th quarter valued at about $89,000. Institutional investors own 99.11% of the company's stock.

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.