AtriCure (NASDAQ:ATRC) Shares Gap Down to $71.01

AtriCure, Inc. (NASDAQ:ATRC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $71.01, but opened at $66.60. AtriCure shares last traded at $66.28, with a volume of 664 shares.

A number of equities analysts have recently issued reports on the stock. SVB Leerink upped their target price on shares of AtriCure from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, November 4th. Zacks Investment Research lowered shares of AtriCure from a “buy” rating to a “hold” rating in a research report on Friday, November 19th. Oppenheimer lowered shares of AtriCure from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 5th. TheStreet upgraded shares of AtriCure from a “c+” rating to a “b” rating in a research report on Tuesday, November 23rd. Finally, Needham & Company LLC upped their target price on shares of AtriCure from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 4th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, AtriCure currently has a consensus rating of “Buy” and an average target price of $91.11.

The company’s fifty day simple moving average is $74.00 and its two-hundred day simple moving average is $75.77. The company has a quick ratio of 2.91, a current ratio of 3.63 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 68.98 and a beta of 1.10.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Wednesday, November 3rd. The medical device company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $2.39. AtriCure had a net margin of 17.53% and a negative return on equity of 11.12%. The company had revenue of $70.46 million during the quarter, compared to the consensus estimate of $68.95 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Equities research analysts expect that AtriCure, Inc. will post -1.21 earnings per share for the current year.

In other AtriCure news, insider Tonya Austin sold 1,227 shares of the stock in a transaction on Friday, September 10th. The shares were sold at an average price of $77.18, for a total value of $94,699.86. Following the completion of the sale, the insider now owns 30,333 shares in the company, valued at $2,341,100.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Angela L. Wirick sold 2,604 shares of the stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $85.00, for a total transaction of $221,340.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,672 shares of company stock valued at $2,521,905. 3.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brinker Capital Investments LLC lifted its stake in shares of AtriCure by 335.1% during the 2nd quarter. Brinker Capital Investments LLC now owns 101,285 shares of the medical device company’s stock worth $8,035,000 after buying an additional 78,004 shares during the last quarter. Advisors Capital Management LLC lifted its stake in shares of AtriCure by 22.5% during the 2nd quarter. Advisors Capital Management LLC now owns 24,016 shares of the medical device company’s stock worth $1,905,000 after buying an additional 4,408 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of AtriCure by 24.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,196,214 shares of the medical device company’s stock worth $332,886,000 after buying an additional 819,636 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in AtriCure by 184.1% in the 2nd quarter. Advisor Group Holdings Inc. now owns 30,636 shares of the medical device company’s stock worth $2,430,000 after purchasing an additional 19,854 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in AtriCure by 8.6% in the 3rd quarter. IFP Advisors Inc now owns 2,524 shares of the medical device company’s stock worth $176,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 96.26% of the company’s stock.

AtriCure Company Profile (NASDAQ:ATRC)

AtriCure, Inc engages in the development, manufacture, and sale of devices designed primarily for the surgical ablation of cardiac tissue, and systems for the exclusion of the left atrial appendage. Its products include radio frequency (RF) ablation pacing and sensing, cryo, left atrial appendage management, soft tissue dissection, estech surgical instrumentation, and cart configuration.

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