AtriCure, Inc. (NASDAQ:ATRC) Receives Consensus Recommendation of “Buy” from Analysts

AtriCure, Inc. (NASDAQ:ATRC) has been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $42.44.

ATRC has been the subject of a number of research analyst reports. Needham & Company LLC dropped their target price on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Piper Sandler dropped their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, BTIG Research decreased their price objective on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st.

Insider Activity at AtriCure

In related news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the sale, the director now owns 8,970 shares in the company, valued at approximately $215,907.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of AtriCure

A number of hedge funds have recently bought and sold shares of ATRC. Comerica Bank raised its holdings in AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after acquiring an additional 1,043 shares during the last quarter. Quest Partners LLC lifted its position in AtriCure by 38.3% during the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after buying an additional 1,626 shares during the period. Virtu Financial LLC purchased a new position in AtriCure during the fourth quarter worth about $213,000. Mount Yale Investment Advisors LLC boosted its stake in AtriCure by 32.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after buying an additional 2,368 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in AtriCure by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after buying an additional 659 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Stock Down 0.5 %

AtriCure stock opened at $28.04 on Tuesday. The stock’s 50 day moving average price is $24.98 and its 200 day moving average price is $24.38. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.54. The company has a market cap of $1.33 billion, a PE ratio of -35.05 and a beta of 1.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). The company had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. On average, sell-side analysts predict that AtriCure will post -0.77 EPS for the current fiscal year.

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.