Wall Street Zen Upgrades AtriCure (NASDAQ:ATRC) to Buy

AtriCure (NASDAQ:ATRC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research analysts also recently weighed in on ATRC. BTIG Research set a $54.00 price target on AtriCure in a research note on Wednesday. UBS Group cut their price target on AtriCure from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. JMP Securities reiterated a “market outperform” rating and set a $60.00 price target on shares of AtriCure in a research note on Wednesday, April 30th. Finally, Needham & Company LLC increased their price target on AtriCure from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $50.89.

AtriCure Stock Down 2.0%

Shares of NASDAQ:ATRC opened at $34.41 on Friday. The company has a market capitalization of $1.71 billion, a PE ratio of -44.69 and a beta of 1.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.94 and a quick ratio of 2.83. The business has a fifty day moving average price of $32.36 and a two-hundred day moving average price of $34.27. AtriCure has a 1 year low of $20.20 and a 1 year high of $43.11.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The firm had revenue of $136.14 million during the quarter, compared to the consensus estimate of $130.17 million. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Analysts forecast that AtriCure will post -0.6 earnings per share for the current year.

Insider Transactions at AtriCure

In related news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $33.44, for a total transaction of $83,600.00. Following the sale, the insider owned 73,550 shares of the company’s stock, valued at approximately $2,459,512. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Institutional Trading of AtriCure

Institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. raised its holdings in shares of AtriCure by 135.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company’s stock valued at $47,000 after acquiring an additional 832 shares in the last quarter. US Bancorp DE raised its holdings in shares of AtriCure by 98.1% in the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company’s stock valued at $51,000 after acquiring an additional 789 shares in the last quarter. Johnson Financial Group Inc. raised its holdings in shares of AtriCure by 1,184.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock valued at $49,000 after acquiring an additional 1,492 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of AtriCure during the 4th quarter valued at about $60,000. Finally, State of Wyoming raised its holdings in shares of AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock valued at $76,000 after buying an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

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.