AtriCure (NASDAQ:ATRC) Upgraded to Hold at StockNews.com

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

Several other brokerages also recently commented on ATRC. Canaccord Genuity Group dropped their target price on shares of AtriCure from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 2nd. BTIG Research lowered their price objective on shares of AtriCure from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Monday, October 17th. Needham & Company LLC lifted their price objective on shares of AtriCure from $55.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 19th. TheStreet downgraded shares of AtriCure from a “c-” rating to a “d” rating in a report on Tuesday, November 1st. Finally, Canaccord Genuity Group lowered their price objective on shares of AtriCure from $72.00 to $65.00 in a report on Wednesday, November 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

AtriCure Stock Performance

Shares of ATRC stock opened at $43.90 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.92 and a current ratio of 3.69. The company has a market capitalization of $2.04 billion, a P/E ratio of -35.98 and a beta of 1.24. The company’s 50 day moving average price is $43.86 and its two-hundred day moving average price is $43.69. AtriCure has a 52 week low of $32.51 and a 52 week high of $72.31.

AtriCure (NASDAQ:ATRCGet Rating) last announced its earnings results on Tuesday, November 1st. The medical device company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $83.25 million for the quarter, compared to analyst estimates of $81.40 million. AtriCure had a negative return on equity of 12.09% and a negative net margin of 17.76%. On average, analysts expect that AtriCure will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AtriCure

Several hedge funds and other institutional investors have recently made changes to their positions in ATRC. HighMark Wealth Management LLC grew its stake in shares of AtriCure by 215.4% in the second quarter. HighMark Wealth Management LLC now owns 1,025 shares of the medical device company’s stock valued at $42,000 after buying an additional 700 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in shares of AtriCure in the third quarter valued at $43,000. Harbor Investment Advisory LLC grew its stake in shares of AtriCure by 24.2% in the second quarter. Harbor Investment Advisory LLC now owns 1,176 shares of the medical device company’s stock valued at $48,000 after buying an additional 229 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of AtriCure in the second quarter valued at $57,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of AtriCure in the second quarter valued at $68,000. 95.27% of the stock is 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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