AtriCure (NASDAQ:ATRC) Stock Price Down 6% Following Insider Selling

AtriCure, Inc. (NASDAQ:ATRC) traded down 6% during mid-day trading on Friday following insider selling activity. The stock traded as low as $34.61 and last traded at $34.07. 67,549 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 663,315 shares. The stock had previously closed at $36.25.

Specifically, Director Karen Prange sold 6,100 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were 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 directly owns 17,828 shares of the company’s stock, valued at approximately $679,603.36. This represents a 25.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price objective on shares of AtriCure in a research note on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a research note on Monday, February 10th. Canaccord Genuity Group increased their price target on shares of AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Oppenheimer increased their price target on shares of AtriCure from $36.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.56.

AtriCure Stock Down 4.8 %

The stock’s 50 day simple moving average is $37.85 and its two-hundred day simple moving average is $33.08. The firm has a market cap of $1.69 billion, a P/E ratio of -36.34 and a beta of 1.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62.

Hedge Funds Weigh In On AtriCure

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in shares of 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 purchasing an additional 63,002 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AtriCure by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after buying an additional 32,676 shares during the last quarter. Atom Investors LP purchased a new stake in shares of AtriCure during the third quarter valued at approximately $1,741,000. Silver Oak Securities Incorporated purchased a new stake in shares of AtriCure during the fourth quarter valued at approximately $220,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of AtriCure by 31.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock valued at $14,038,000 after buying an additional 119,929 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

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.