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

AtriCure, Inc. (NASDAQ:ATRC) shares fell 4.9% on Thursday . The stock traded as low as $40.05 and last traded at $40.32. 158,771 shares changed hands 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 Analyst Weigh In

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

AtriCure Stock Down 4.1 %

The firm 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 fifty day moving average price of $34.54 and a two-hundred day moving average price of $29.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The business had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same period in the previous year, the business earned ($0.20) earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts expect that AtriCure, Inc. will post -0.75 earnings per share for the current year.

Hedge Funds Weigh In On AtriCure

Several hedge funds and other institutional investors have recently modified their holdings of ATRC. Blue Trust Inc. boosted its stake in AtriCure by 1.8% during the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock worth $414,000 after buying an additional 265 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of AtriCure by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock valued at $1,569,000 after acquiring an additional 484 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of AtriCure by 4.0% in the second quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock valued at $488,000 after purchasing an additional 831 shares during the period. KBC Group NV raised its stake in AtriCure by 65.3% during the fourth quarter. KBC Group NV now owns 2,360 shares of the medical device company’s stock worth $72,000 after purchasing an additional 932 shares during the period. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of AtriCure in the 3rd quarter valued at approximately $28,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.