AtriCure (NASDAQ:ATRC) Stock Price Passes Above 200-Day Moving Average – Here’s Why

AtriCure, Inc. (NASDAQ:ATRC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.90 and traded as high as $33.17. AtriCure shares last traded at $32.80, with a volume of 714,721 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Zacks Research lowered AtriCure from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Weiss Ratings lowered AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Canaccord Genuity Group lifted their price objective on AtriCure from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen lowered AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Freedom Capital raised AtriCure to a “strong-buy” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, AtriCure has an average rating of “Moderate Buy” and an average target price of $48.71.

AtriCure Stock Performance

The stock has a fifty day moving average of $28.30 and a 200-day moving average of $31.90. The firm has a market capitalization of $1.66 billion, a P/E ratio of -328.00 and a beta of 1.24. The company has a quick ratio of 3.18, a current ratio of 4.29 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling at AtriCure

In other news, Director Karen Prange sold 3,000 shares of AtriCure stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total value of $85,950.00. Following the sale, the director directly owned 26,373 shares in the company, valued at $755,586.45. This trade represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its stake in AtriCure by 59.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after buying an additional 429 shares during the last quarter. Scotia Capital Inc. boosted its stake in shares of AtriCure by 1.2% during the 3rd quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company’s stock worth $1,328,000 after buying an additional 457 shares during the last quarter. First Bank & Trust grew its holdings in shares of AtriCure by 6.0% in the 4th quarter. First Bank & Trust now owns 8,805 shares of the medical device company’s stock valued at $348,000 after acquiring an additional 495 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of AtriCure by 6.6% in the 4th quarter. ProShare Advisors LLC now owns 8,819 shares of the medical device company’s stock valued at $349,000 after acquiring an additional 543 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of AtriCure by 7.9% in the fourth quarter. Captrust Financial Advisors now owns 7,944 shares of the medical device company’s stock valued at $314,000 after acquiring an additional 579 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.