AtriCure, Inc. (NASDAQ:ATRC) Short Interest Update

AtriCure, Inc. (NASDAQ:ATRC) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 3,290,000 shares, a decrease of 8.4% from the September 30th total of 3,590,000 shares. Based on an average trading volume of 622,900 shares, the short-interest ratio is currently 5.3 days.

Analyst Upgrades and Downgrades

ATRC has been the topic of several recent research reports. BTIG Research lowered their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Canaccord Genuity Group increased their target price on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus reduced their target price on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.11.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now owns 8,970 shares in the company, valued at $215,907.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Trading of AtriCure

Several large investors have recently bought and sold shares of ATRC. Arcadia Investment Management Corp MI acquired a new stake in shares of AtriCure during the third quarter valued at about $28,000. Comerica Bank boosted its stake in shares of AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares in the last quarter. Quest Partners LLC boosted its stake in shares of AtriCure by 38.3% during the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after purchasing an additional 1,626 shares in the last quarter. nVerses Capital LLC boosted its stake in shares of AtriCure by 733.3% during the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of AtriCure by 32.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after purchasing an additional 2,368 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Stock Performance

NASDAQ:ATRC opened at $33.18 on Friday. The stock’s 50-day simple moving average is $27.86 and its 200 day simple moving average is $24.43. The firm has a market capitalization of $1.62 billion, a PE ratio of -39.98 and a beta of 1.44. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.00.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.02. The business had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. AtriCure’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) earnings per share. On average, analysts anticipate that AtriCure will post -0.77 EPS for the current fiscal year.

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.