AtriCure Inc. (NASDAQ:ATRC) CEO Sells $850,000.00 in Stock

AtriCure Inc. (NASDAQ:ATRC) CEO Michael H. Carrel sold 25,000 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $34.00, for a total transaction of $850,000.00. Following the transaction, the chief executive officer now directly owns 651,490 shares of the company’s stock, valued at $22,150,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of ATRC stock traded up $0.98 during trading hours on Thursday, reaching $36.28. 5,772 shares of the company’s stock were exchanged, compared to its average volume of 204,504. The company has a market cap of $1.34 billion, a P/E ratio of -38.38 and a beta of 0.32. The company’s 50 day moving average is $31.57 and its two-hundred day moving average is $28.94. AtriCure Inc. has a 1 year low of $22.57 and a 1 year high of $34.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.11 and a quick ratio of 2.49.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, October 30th. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.03. The business had revenue of $56.60 million during the quarter, compared to the consensus estimate of $55.12 million. AtriCure had a negative return on equity of 13.59% and a negative net margin of 10.13%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.24) EPS. As a group, analysts predict that AtriCure Inc. will post -1.11 EPS for the current fiscal year.

A number of brokerages have weighed in on ATRC. BidaskClub raised AtriCure from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. Zacks Investment Research cut AtriCure from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Finally, ValuEngine downgraded AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $36.00.

Hedge funds have recently modified their holdings of the company. First Light Asset Management LLC raised its stake in shares of AtriCure by 21.6% during the 2nd quarter. First Light Asset Management LLC now owns 1,111,740 shares of the medical device company’s stock worth $33,174,000 after buying an additional 197,433 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of AtriCure by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 211,390 shares of the medical device company’s stock worth $6,308,000 after buying an additional 4,506 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of AtriCure during the 3rd quarter worth approximately $2,682,000. Russell Investments Group Ltd. purchased a new position in shares of AtriCure during the 3rd quarter worth approximately $74,000. Finally, SG Americas Securities LLC raised its stake in shares of AtriCure by 1,216.1% during the 3rd quarter. SG Americas Securities LLC now owns 99,209 shares of the medical device company’s stock worth $2,474,000 after buying an additional 91,671 shares in the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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