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

AtriCure, Inc. (NASDAQ:ATRCGet Rating) has received an average rating of “Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $91.63.

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of AtriCure from $120.00 to $88.00 in a report on Wednesday, February 16th. TheStreet lowered shares of AtriCure from a “b-” rating to a “c” rating in a research note on Wednesday, February 16th. Needham & Company LLC decreased their target price on shares of AtriCure from $79.00 to $67.00 in a research report on Wednesday, May 4th. StockNews.com downgraded AtriCure from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Canaccord Genuity Group decreased their price objective on AtriCure from $120.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, February 16th.

Shares of ATRC opened at $40.53 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.21 and a quick ratio of 2.78. The company’s fifty day moving average price is $60.34 and its 200-day moving average price is $66.32. AtriCure has a 1-year low of $40.20 and a 1-year high of $89.18. The firm has a market capitalization of $1.88 billion, a PE ratio of 36.19 and a beta of 1.19.

AtriCure (NASDAQ:ATRCGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The medical device company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The firm had revenue of $74.58 million for the quarter, compared to analyst estimates of $71.17 million. AtriCure had a negative return on equity of 11.66% and a net margin of 17.93%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) EPS. As a group, research analysts anticipate that AtriCure will post -1.09 EPS for the current fiscal year.

In related news, insider Tonya Austin sold 1,409 shares of AtriCure stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $67.66, for a total value of $95,332.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 5,807 shares of company stock worth $394,645. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of ATRC. Captrust Financial Advisors lifted its position in shares of AtriCure by 5.6% during the 3rd quarter. Captrust Financial Advisors now owns 2,544 shares of the medical device company’s stock valued at $177,000 after buying an additional 135 shares in the last quarter. Arizona State Retirement System raised its position in shares of AtriCure by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 11,808 shares of the medical device company’s stock worth $821,000 after purchasing an additional 181 shares during the last quarter. Truist Financial Corp lifted its stake in AtriCure by 0.9% in the 1st quarter. Truist Financial Corp now owns 21,062 shares of the medical device company’s stock valued at $1,383,000 after buying an additional 185 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in AtriCure by 10.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,341 shares of the medical device company’s stock worth $162,000 after buying an additional 215 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of AtriCure by 1.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 17,859 shares of the medical device company’s stock valued at $1,242,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

About AtriCure (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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