AtriCure (NASDAQ:ATRC) Trading Down 4.9% – What’s Next?

AtriCure, Inc. (NASDAQ:ATRC)’s stock 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 trading, a decline of 74% from the average session volume of 610,974 shares. The stock had previously closed at $42.40.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ATRC shares. Needham & Company LLC lifted their price objective on shares of AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Oppenheimer increased their price objective on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their price target on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $40.00 price objective on shares of AtriCure in a research report on Tuesday, December 17th. Finally, UBS Group increased their price objective 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.38.

AtriCure Trading Down 4.1 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -48.95 and a beta of 1.42. The business has a 50-day moving average of $34.54 and a 200-day moving average of $29.99.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02. The company had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. AtriCure’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the firm posted ($0.20) EPS. As a group, research analysts forecast that AtriCure, Inc. will post -0.75 EPS for the current year.

Hedge Funds Weigh In On AtriCure

Institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI acquired a new stake in shares of AtriCure in the 3rd quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of AtriCure during the 4th quarter worth approximately $60,000. KBC Group NV raised its holdings in shares of AtriCure by 65.3% in the fourth 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 during the last quarter. R Squared Ltd acquired a new stake in shares of AtriCure during the 4th quarter worth about $89,000. Finally, nVerses Capital LLC grew its stake in AtriCure by 733.3% in the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after acquiring an additional 4,400 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

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.