AtriCure (NASDAQ:ATRC) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of AtriCure (NASDAQ:ATRCGet Rating) from a hold rating to a sell rating in a research report report published on Monday morning.

A number of other equities analysts have also commented on ATRC. Canaccord Genuity Group cut their price objective on AtriCure from $120.00 to $88.00 in a research note on Wednesday, February 16th. Canaccord Genuity Group lowered their target price on AtriCure from $120.00 to $88.00 and set a buy rating for the company in a report on Wednesday, February 16th. TheStreet downgraded AtriCure from a b- rating to a c rating in a report on Wednesday, February 16th. BTIG Research reiterated a buy rating and issued a $94.00 target price on shares of AtriCure in a report on Monday, March 14th. Finally, Needham & Company LLC lowered their target price on AtriCure from $79.00 to $67.00 in a report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, AtriCure presently has a consensus rating of Buy and a consensus target price of $90.00.

Shares of ATRC opened at $40.53 on Monday. AtriCure has a 12-month low of $40.20 and a 12-month high of $89.18. The business has a 50-day simple moving average of $60.34 and a two-hundred day simple moving average of $66.32. The company has a quick ratio of 2.78, a current ratio of 4.21 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.88 billion, a PE ratio of 36.19 and a beta of 1.19.

AtriCure (NASDAQ:ATRCGet Rating) last issued its earnings results on Tuesday, May 3rd. The medical device company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). AtriCure had a negative return on equity of 11.66% and a net margin of 17.93%. The firm had revenue of $74.58 million during the quarter, compared to analyst estimates of $71.17 million. During the same period in the previous year, the company earned ($0.32) EPS. AtriCure’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts expect that AtriCure will post -1.09 EPS for the current year.

In related news, insider Tonya Austin sold 1,409 shares of AtriCure stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $67.66, for a total transaction of $95,332.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 5,807 shares of company stock worth $394,645. 2.80% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in ATRC. Millennium Management LLC boosted its position in shares of AtriCure by 196.2% during the fourth quarter. Millennium Management LLC now owns 990,170 shares of the medical device company’s stock valued at $68,847,000 after buying an additional 655,861 shares during the last quarter. Alliancebernstein L.P. boosted its position in 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 purchasing an additional 544,296 shares during the last quarter. Norges Bank purchased a new position in AtriCure in the fourth quarter worth $30,737,000. Balyasny Asset Management LLC purchased a new position in AtriCure in the third quarter worth $21,953,000. Finally, Polar Capital Holdings Plc boosted its position in 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 purchasing an additional 203,720 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

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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