AtriCure, Inc. (NASDAQ:ATRC) Receives Average Recommendation of “Moderate Buy” from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $52.4444.

ATRC has been the subject of several research reports. Canaccord Genuity Group lifted their price target on shares of AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of AtriCure from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, October 8th. Finally, Citigroup reiterated a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th.

Insider Buying and Selling

In other news, Director Sven Wehrwein sold 5,033 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $37.32, for a total transaction of $187,831.56. Following the completion of the transaction, the director owned 34,374 shares of the company’s stock, valued at approximately $1,282,837.68. The trade was a 12.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Maggie Yuen sold 3,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $35.72, for a total transaction of $107,160.00. Following the transaction, the director owned 11,371 shares of the company’s stock, valued at $406,172.12. This represents a 20.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,166 shares of company stock worth $676,378 in the last three months. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of AtriCure by 8.1% in the third quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock valued at $151,296,000 after purchasing an additional 322,818 shares during the period. Hood River Capital Management LLC grew its holdings in AtriCure by 2.1% in the 2nd quarter. Hood River Capital Management LLC now owns 3,061,059 shares of the medical device company’s stock worth $100,311,000 after buying an additional 61,852 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AtriCure by 170.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company’s stock worth $70,872,000 after buying an additional 1,385,544 shares in the last quarter. Neuberger Berman Group LLC increased its position in AtriCure by 0.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,189,739 shares of the medical device company’s stock valued at $38,969,000 after acquiring an additional 3,674 shares during the period. Finally, Geode Capital Management LLC raised its stake in AtriCure by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,181,737 shares of the medical device company’s stock valued at $38,731,000 after acquiring an additional 14,577 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Price Performance

Shares of NASDAQ ATRC opened at $40.59 on Thursday. The company has a current ratio of 3.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -66.53 and a beta of 1.47. AtriCure has a twelve month low of $28.29 and a twelve month high of $43.11. The business has a 50 day simple moving average of $36.68 and a 200-day simple moving average of $35.07.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. AtriCure had a negative net margin of 5.55% and a negative return on equity of 2.54%. The firm had revenue of $134.27 million during the quarter, compared to the consensus estimate of $131.25 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, equities research analysts expect that AtriCure will post -0.6 earnings per share for the current year.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.