Insider Selling: AtriCure, Inc. (NASDAQ:ATRC) Director Sells 6,100 Shares of Stock

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) Director Karen Prange sold 6,100 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the completion of the transaction, the director now owns 17,828 shares of the company's stock, valued at approximately $679,603.36. This trade represents a 25.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

AtriCure Trading Up 1.2 %

Shares of AtriCure stock traded up $0.40 on Tuesday, reaching $33.94. 743,449 shares of the company were exchanged, compared to its average volume of 667,569. The stock has a fifty day moving average price of $37.92 and a 200-day moving average price of $33.27. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -35.73 and a beta of 1.53. AtriCure, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $43.11. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ATRC shares. Canaccord Genuity Group boosted their price target on AtriCure from $61.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Stifel Nicolaus increased their target price on shares of AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Needham & Company LLC restated a "buy" rating and set a $51.00 price target on shares of AtriCure in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of AtriCure from $40.00 to $51.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, Piper Sandler boosted their target price on AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $51.56.

Remove Ads

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC boosted its stake in AtriCure by 3.3% in the 4th quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock worth $89,349,000 after purchasing an additional 93,131 shares during the period. Champlain Investment Partners LLC lifted its holdings in shares of AtriCure by 4.3% in the third quarter. Champlain Investment Partners LLC now owns 2,790,758 shares of the medical device company's stock valued at $78,253,000 after purchasing an additional 115,813 shares in the last quarter. First Light Asset Management LLC boosted its position in shares of AtriCure by 5.6% in the fourth quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock worth $60,179,000 after buying an additional 103,685 shares during the period. Wellington Management Group LLP grew its holdings in shares of AtriCure by 0.4% during the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company's stock valued at $43,291,000 after buying an additional 6,045 shares in the last quarter. Finally, State Street Corp raised its position in AtriCure by 4.9% during the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company's stock valued at $37,710,000 after buying an additional 63,002 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.