AtriCure (NASDAQ:ATRC) Trading Down 5.8% – Should You Sell?

AtriCure, Inc. (NASDAQ:ATRC) was down 5.8% on Thursday . The company traded as low as $38.84 and last traded at $39.92. Approximately 176,945 shares were traded during trading, a decline of 69% from the average daily volume of 569,972 shares. The stock had previously closed at $42.36.

Analysts Set New Price Targets

Several analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Monday, February 10th. Piper Sandler boosted their price target on shares of AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus lifted their target price on AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $51.00 price target on shares of AtriCure in a research report on Thursday. Finally, UBS Group boosted their price target on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.56.

AtriCure Stock Performance

The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -49.33 and a beta of 1.46. The company’s fifty day simple moving average is $35.63 and its 200 day simple moving average is $31.23. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp lifted its holdings in AtriCure by 13.8% during the 2nd quarter. Truist Financial Corp now owns 15,184 shares of the medical device company’s stock worth $346,000 after purchasing an additional 1,842 shares during the last quarter. Creative Planning acquired a new stake in AtriCure in the 3rd quarter worth about $321,000. nVerses Capital LLC boosted its stake in shares of AtriCure by 733.3% in the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock valued at $140,000 after buying an additional 4,400 shares during the period. Assenagon Asset Management S.A. grew its position in AtriCure by 151.6% during the third quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock worth $6,425,000 after buying an additional 138,046 shares in the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of AtriCure during the 3rd quarter worth $28,000. Institutional investors and hedge funds 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.