AtriCure, Inc. (NASDAQ:ATRC) Given Consensus Rating of “Buy” by Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been given an average rating of “Buy” by the seven brokerages that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $49.78.

ATRC has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price objective on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Canaccord Genuity Group dropped their target price on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC decreased their target price on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price objective on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, UBS Group raised their target price on AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 16th.

AtriCure Price Performance

ATRC stock opened at $22.54 on Wednesday. The firm has a 50-day moving average of $24.11 and a two-hundred day moving average of $31.15. The firm has a market capitalization of $1.07 billion, a PE ratio of -28.17 and a beta of 1.41. The company has a current ratio of 4.00, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. AtriCure has a one year low of $20.19 and a one year high of $59.61.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.85%. The business had revenue of $108.90 million for the quarter, compared to analyst estimates of $106.86 million. During the same period in the previous year, the firm posted ($0.23) earnings per share. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. On average, analysts forecast that AtriCure will post -0.75 earnings per share for the current year.

Insider Transactions at AtriCure

In related news, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the transaction, the insider now directly owns 74,284 shares in the company, valued at approximately $2,727,708.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Karl S. Dahlquist sold 1,885 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total value of $60,621.60. Following the completion of the transaction, the insider now directly owns 50,954 shares of the company’s stock, valued at $1,638,680.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the sale, the insider now directly owns 74,284 shares in the company, valued at approximately $2,727,708.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,616 shares of company stock worth $504,932. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of institutional investors have recently added to or reduced their stakes in ATRC. RiverPark Advisors LLC bought a new position in shares of AtriCure during the 3rd quarter worth approximately $27,000. Comerica Bank boosted its stake in shares of AtriCure by 70.5% in the 1st 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. Allspring Global Investments Holdings LLC grew its holdings in shares of AtriCure by 31.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock worth $91,000 after purchasing an additional 497 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of AtriCure during the 4th quarter worth about $103,000. Finally, Virtu Financial LLC bought a new position in AtriCure during the 4th quarter valued at about $213,000. 99.11% of the stock is owned by institutional investors and hedge funds.

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.