Price Action to Note: What Next for AtriCure Inc. Stock After Today’s Significant Increase?

Price Action to Note: What Next for AtriCure Inc. Stock After Today's Significant Increase?

The stock of AtriCure Inc. (NASDAQ:ATRC) is a huge mover today! About 339,598 shares traded hands or 63.65% up from the average. AtriCure Inc. (NASDAQ:ATRC) has declined 3.58% since March 4, 2016 and is downtrending. It has underperformed by 11.62% the S&P500.
The move comes after 5 months positive chart setup for the $589.61 million company. It was reported on Oct, 7 by Barchart.com. We have $22.65 PT which if reached, will make NASDAQ:ATRC worth $170.99M more.

Analysts await AtriCure Inc. (NASDAQ:ATRC) to report earnings on October, 25. They expect $-0.28 earnings per share, down 27.27% or $0.06 from last year’s $-0.22 per share. After $-0.26 actual earnings per share reported by AtriCure Inc. for the previous quarter, Wall Street now forecasts 7.69% negative EPS growth.

AtriCure Inc. (NASDAQ:ATRC) Ratings Coverage

Out of 7 analysts covering Atricure Inc. (NASDAQ:ATRC), 6 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 86% are positive. Atricure Inc. has been the topic of 13 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained AtriCure Inc. (NASDAQ:ATRC) on Friday, August 5 with “Buy” rating. The firm has “Buy” rating given on Tuesday, August 4 by Needham. Northland Capital initiated it with “Outperform” rating and $24 target price in Tuesday, March 29 report. As per Tuesday, July 28, the company rating was maintained by Dougherty & Company. UBS maintained it with “Sell” rating and $14 target price in Friday, August 5 report. The company was maintained on Tuesday, October 6 by Canaccord Genuity. The stock has “Buy” rating given by Needham on Wednesday, October 28. Needham maintained it with “Buy” rating and $30 target price in Tuesday, October 6 report. The rating was initiated by UBS on Tuesday, September 22 with “Sell”. Needham maintained the stock with “Buy” rating in Wednesday, July 29 report.

According to Zacks Investment Research, “AtriCure, Inc. is a medical device company focused on developing, manufacturing and selling innovative surgical devices to create precise lesions, or scars, in soft tissues. Medical journals have described the adoption by leading cardiothoracic surgeons of the AtriCure, Inc. bipolar ablation system as a standard treatment alternative during open-heart surgical procedures to safely, rapidly and reliably create lesions in cardiac, or heart, tissue to block the abnormal electrical impulses that cause atrial fibrillation, a quivering of the upper chambers of the heart.”

Insitutional Activity: The institutional sentiment decreased to 0.96 in 2016 Q2. Its down 0.19, from 1.15 in 2016Q1. The ratio dived, as 15 funds sold all AtriCure Inc. shares owned while 31 reduced positions. 5 funds bought stakes while 39 increased positions. They now own 24.21 million shares or 10.01% less from 26.90 million shares in 2016Q1.
Acuta Cap Prns Lc has 112,923 shares for 0.77% of their US portfolio. Blackrock Inv Mgmt Limited Liability Com has 122,066 shares for 0% of their US portfolio. Blackrock Institutional Com Na reported 738,010 shares or 0% of all its holdings. Swiss Savings Bank owns 51,100 shares or 0% of their US portfolio. Keybank Natl Association Oh owns 35,194 shares or 0% of their US portfolio. Tiaa Cref Invest Mngmt Ltd Liability Corp holds 0% or 117,305 shares in its portfolio. Millennium Mgmt Ltd Liability Corp holds 0.03% of its portfolio in AtriCure Inc. (NASDAQ:ATRC) for 903,930 shares. Credit Suisse Ag holds 0% of its portfolio in AtriCure Inc. (NASDAQ:ATRC) for 35,797 shares. Vanguard Group last reported 0% of its portfolio in the stock. California State Teachers Retirement Sys owns 65,906 shares or 0% of their US portfolio. Massachusetts Financial Ser Ma holds 416,353 shares or 0% of its portfolio. Bnp Paribas Arbitrage Sa last reported 1,222 shares in the company. Emerald Mutual Fund Advisers Tru, a Pennsylvania-based fund reported 522,174 shares. Blackrock has 0% invested in the company for 3,389 shares. Moreover, Perkins Capital Mgmt has 1.38% invested in AtriCure Inc. (NASDAQ:ATRC) for 85,100 shares.

Insider Transactions: Since August 16, 2016, the stock had 0 buys, and 2 sales for $171,580 net activity. Shares for $95,580 were sold by Krell Elizabeth D on Monday, September 12.

Another recent and important AtriCure Inc. (NASDAQ:ATRC) news was published by Businesswire.com which published an article titled: “AtriCure Announces Approval for the AtriClip in Japan” on January 19, 2016.

ATRC Company Profile

AtriCure, Inc., incorporated on October 31, 2000, is a medical device firm providing atrial fibrillation (Afib) solutions. The Company’s segment develops, makes, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. The Firm has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures. The Firm offers various minimally invasive ablation devices and access tools to facilitate less invasive cardiac and thoracic surgery. The Company’s cryoICE cryosurgery product line offers various cryoablation devices. The Company’s AtriClip Left Atrial Appendage Exclusion System is designed to occlude the heart’s left atrial appendage (LAA). The Company’s products are utilized by cardiothoracic surgeons during both open-heart and minimally invasive procedures, either on a concomitant or sole-therapy basis. The Company’s Isolator Synergy System, which includes its Isolator Synergy clamps, radio frequency (RF) generator and related switchbox, provides treatment for persistent and long-standing persistent Afib concomitant to other open-heart surgical procedures, such as coronary artery bypass grafting and/or valve replacement or repair. The Firm has two primary product lines for cardiac tissue ablation, which include Radio Frequency Ablation Devices and cryoICE Cryoablation System, and a product line for left atrial appendage exclusion.

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