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

Shares of AtriCure, Inc. (NASDAQ:ATRCGet Rating) have been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $92.22.

ATRC has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their price target on AtriCure from $120.00 to $88.00 in a report on Wednesday, February 16th. StockNews.com began coverage on AtriCure in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $79.00 price objective on shares of AtriCure in a research report on Thursday, February 24th. Zacks Investment Research cut shares of AtriCure from a “buy” rating to a “hold” rating in a research report on Friday, February 18th. Finally, TheStreet cut shares of AtriCure from a “b-” rating to a “c” rating in a research report on Wednesday, February 16th.

Shares of ATRC opened at $57.05 on Friday. The stock’s 50-day simple moving average is $64.14 and its 200 day simple moving average is $68.30. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 53.32 and a beta of 1.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.78 and a current ratio of 3.47. AtriCure has a 52-week low of $55.85 and a 52-week high of $89.18.

AtriCure (NASDAQ:ATRCGet Rating) last posted its earnings results on Tuesday, February 15th. The medical device company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.04). AtriCure had a negative return on equity of 11.96% and a net margin of 18.30%. The firm had revenue of $73.22 million during the quarter, compared to analysts’ expectations of $72.50 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. On average, research analysts forecast that AtriCure will post -1.09 earnings per share for the current fiscal year.

In other news, insider Tonya Austin sold 2,490 shares of the firm’s stock in a transaction dated Friday, February 11th. The shares were sold at an average price of $67.97, for a total transaction of $169,245.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 5,807 shares of company stock worth $394,645. Company insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ATRC. Millennium Management LLC boosted its holdings in shares of AtriCure by 196.2% in the fourth quarter. Millennium Management LLC now owns 990,170 shares of the medical device company’s stock worth $68,847,000 after buying an additional 655,861 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of AtriCure by 18.7% in the fourth quarter. Alliancebernstein L.P. now owns 3,455,856 shares of the medical device company’s stock worth $240,286,000 after buying an additional 544,296 shares during the last quarter. Norges Bank purchased a new position in shares of AtriCure in the fourth quarter worth approximately $30,737,000. Balyasny Asset Management LLC purchased a new position in shares of AtriCure in the third quarter worth approximately $21,953,000. Finally, Polar Capital Holdings Plc boosted its holdings in shares of AtriCure by 65.3% in the third quarter. Polar Capital Holdings Plc now owns 515,910 shares of the medical device company’s stock worth $35,882,000 after buying an additional 203,720 shares during the last quarter. 93.28% of the stock is currently owned by institutional investors.

AtriCure Company Profile (Get Rating)

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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