Insider Selling: ArthroCare Corp. SVP Sells 33,478 Shares of Stock (ARTC)
ArthroCare Corp. (NASDAQ:ARTC) SVP Bruce Prothro sold 33,478 shares of ArthroCare Corp. stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $45.82, for a total value of $1,533,961.96. Following the completion of the transaction, the senior vice president now directly owns 39,421 shares in the company, valued at approximately $1,806,270. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
ARTC has been the subject of a number of recent research reports. Analysts at Northcoast Research downgraded shares of ArthroCare Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at Canaccord Genuity raised their price target on shares of ArthroCare Corp. from $48.00 to $56.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of ArthroCare Corp. from $38.00 to $47.00 in a research note to investors on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $49.67.
ArthroCare Corp. (NASDAQ:ARTC) traded up 0.65% on Friday, hitting $46.48. 291,460 shares of the company’s stock traded hands. ArthroCare Corp. has a 52 week low of $31.56 and a 52 week high of $49.95. The stock has a 50-day moving average of $39.10 and a 200-day moving average of $36.20. The company has a market cap of $1.319 billion and a P/E ratio of 72.95.
ArthroCare Corp. (NASDAQ:ARTC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.27 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.27. The company had revenue of $91.86 million for the quarter, compared to the consensus estimate of $88.99 million. During the same quarter last year, the company posted $0.27 earnings per share. ArthroCare Corp.’s revenue was up 5.7% compared to the same quarter last year. Analysts expect that ArthroCare Corp. will post $1.44 EPS for the current fiscal year.
ArthroCare Corporation (NASDAQ:ARTC), is a medical device company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.