AtriCure (NASDAQ:ATRC) Shares Down 5.8% – Time to Sell?

AtriCure, Inc. (NASDAQ:ATRC)’s share price traded down 5.8% during mid-day trading on Thursday . The company traded as low as $38.84 and last traded at $39.92. 176,945 shares changed hands during trading, a decline of 69% from the average session volume of 569,972 shares. The stock had previously closed at $42.36.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Oppenheimer upped their price objective on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group increased their price target on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $51.00 price objective on shares of AtriCure in a report on Thursday. Canaccord Genuity Group upped their target price on AtriCure from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of AtriCure from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.56.

AtriCure Trading Up 3.4 %

The firm has a fifty day moving average of $35.63 and a two-hundred day moving average of $31.23. The company has a market cap of $2.00 billion, a PE ratio of -49.33 and a beta of 1.46. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On AtriCure

Several large investors have recently modified their holdings of ATRC. Arcadia Investment Management Corp MI bought a new position in AtriCure in the 3rd quarter worth approximately $28,000. Johnson Financial Group Inc. lifted its position in shares of AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after acquiring an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of AtriCure in the fourth quarter worth $60,000. Venturi Wealth Management LLC boosted its holdings in shares of AtriCure by 1,337.6% in the fourth quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company’s stock worth $69,000 after acquiring an additional 2,100 shares during the period. Finally, KBC Group NV grew its position 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 valued at $72,000 after purchasing an additional 932 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.