AtriCure (NASDAQ:ATRC) Upgraded by StockNews.com to “Hold”

AtriCure (NASDAQ:ATRCGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other brokerages have also recently issued reports on ATRC. Canaccord Genuity Group decreased their target price on AtriCure from $120.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. Needham & Company LLC decreased their target price on AtriCure from $79.00 to $67.00 in a research report on Wednesday, May 4th. TheStreet cut AtriCure from a “b-” rating to a “c” rating in a research report on Wednesday, February 16th. BTIG Research reaffirmed a “buy” rating and issued a $94.00 target price on shares of AtriCure in a research report on Monday, March 14th. Finally, Canaccord Genuity Group decreased their target price on AtriCure from $120.00 to $88.00 in a research report on Wednesday, February 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $91.13.

Shares of NASDAQ ATRC opened at $41.44 on Tuesday. The company has a quick ratio of 3.35, a current ratio of 4.21 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 37.00 and a beta of 1.19. The stock’s fifty day simple moving average is $57.73 and its 200 day simple moving average is $65.13. AtriCure has a 52-week low of $38.64 and a 52-week high of $89.18.

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). The company had revenue of $74.58 million during 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 quarter in the previous year, the firm earned ($0.32) earnings per share. As a group, analysts anticipate that AtriCure will post -1.09 earnings per share for the current year.

In related news, insider Tonya Austin sold 1,626 shares of AtriCure stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $69.31, for a total transaction of $112,698.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 3,317 shares of company stock valued at $225,399. Insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Millennium Management LLC boosted its position in 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 purchasing an additional 655,861 shares during the last quarter. Alliancebernstein L.P. lifted its position 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 acquired a new stake in shares of AtriCure in the fourth quarter worth about $30,737,000. Invesco Ltd. lifted its position in shares of AtriCure by 17.5% in the first quarter. Invesco Ltd. now owns 2,865,409 shares of the medical device company’s stock worth $188,171,000 after buying an additional 427,792 shares during the last quarter. Finally, First Light Asset Management LLC lifted its position in shares of AtriCure by 35.8% in the first quarter. First Light Asset Management LLC now owns 1,364,812 shares of the medical device company’s stock worth $89,627,000 after buying an additional 359,823 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other 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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