AtriCure (NASDAQ:ATRC) Upgraded by Oppenheimer to Outperform

Oppenheimer upgraded shares of AtriCure (NASDAQ:ATRC) from a market perform rating to an outperform rating in a research note released on Tuesday morning, Marketbeat.com reports. Oppenheimer currently has $32.00 target price on the medical device company’s stock.

A number of other brokerages also recently issued reports on ATRC. StockNews.com downgraded AtriCure from a hold rating to a sell rating in a research note on Wednesday, March 27th. Needham & Company LLC reissued a buy rating and issued a $46.00 price objective on shares of AtriCure in a report on Wednesday, April 10th. UBS Group lifted their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus dropped their price target on shares of AtriCure from $50.00 to $42.00 and set a buy rating for the company in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $52.63.

AtriCure Stock Up 2.0 %

Shares of NASDAQ ATRC opened at $23.17 on Tuesday. The stock has a market cap of $1.12 billion, a PE ratio of -35.11 and a beta of 1.38. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. AtriCure has a 12-month low of $22.27 and a 12-month high of $59.61. The company has a 50-day moving average of $30.44 and a 200 day moving average of $33.92.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The business had revenue of $106.50 million during the quarter, compared to analyst estimates of $103.68 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts predict that AtriCure will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling at AtriCure

In other news, insider Karl S. Dahlquist sold 8,231 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the transaction, the insider now directly owns 52,839 shares in the company, valued at $1,974,065.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $30.39, for a total value of $45,585.00. Following the completion of the transaction, the insider now directly owns 72,784 shares of the company’s stock, valued at approximately $2,211,905.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Karl S. Dahlquist sold 8,231 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the sale, the insider now directly owns 52,839 shares in the company, valued at approximately $1,974,065.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,116 shares of company stock valued at $468,797 over the last quarter. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of AtriCure in the third quarter worth $603,000. HighMark Wealth Management LLC grew its stake in AtriCure by 175.6% during the 3rd quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company’s stock worth $124,000 after purchasing an additional 1,800 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in AtriCure by 17.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,936 shares of the medical device company’s stock worth $917,000 after purchasing an additional 3,086 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in AtriCure in the 3rd quarter valued at about $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AtriCure by 14.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,854 shares of the medical device company’s stock valued at $432,000 after buying an additional 1,238 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, 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 enables users to make longer linear lines of ablation.