AtriCure, Inc. (NASDAQ:ATRC) Short Interest Down 8.4% in October

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 3,290,000 shares, a decrease of 8.4% from the September 30th total of 3,590,000 shares. Based on an average trading volume of 622,900 shares, the short-interest ratio is currently 5.3 days.

Insider Activity

In other news, Director Maggie Yuen sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now directly owns 8,970 shares in the company, valued at $215,907.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On AtriCure

A number of institutional investors have recently added to or reduced their stakes in ATRC. Vanguard Group Inc. lifted its stake in shares of AtriCure by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company's stock worth $170,100,000 after acquiring an additional 76,146 shares during the last quarter. Champlain Investment Partners LLC grew its position in shares of AtriCure by 27.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company's stock worth $81,556,000 after buying an additional 575,605 shares during the last quarter. First Light Asset Management LLC grew its holdings in shares of AtriCure by 42.1% during the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company's stock valued at $44,736,000 after buying an additional 581,843 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in AtriCure in the second quarter valued at approximately $40,422,000. Finally, Millennium Management LLC raised its holdings in shares of AtriCure by 132.5% during the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company's stock worth $21,694,000 after purchasing an additional 543,023 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Stock Performance

Shares of ATRC traded up $5.79 during mid-day trading on Wednesday, hitting $35.22. The stock had a trading volume of 2,024,316 shares, compared to its average volume of 727,932. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.00. The firm has a market cap of $1.68 billion, a P/E ratio of -44.50 and a beta of 1.44. The business has a fifty day moving average price of $27.46 and a 200-day moving average price of $24.30.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business had revenue of $115.91 million during the quarter, compared to analysts' expectations of $112.23 million. During the same quarter in the prior year, the company posted ($0.20) EPS. The firm's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities research analysts expect that AtriCure will post -0.77 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ATRC shares. Oppenheimer boosted their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday. Piper Sandler reduced their target price on shares of AtriCure from $65.00 to $40.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on AtriCure from $30.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday. BTIG Research decreased their price target on AtriCure from $58.00 to $53.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Finally, Canaccord Genuity Group raised their price target on shares of AtriCure from $49.00 to $53.00 and gave the stock a "buy" rating in a report on Wednesday. One equities research 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 currently has an average rating of "Moderate Buy" and a consensus price target of $43.11.

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.