AtriCure, Inc. (NASDAQ:ATRC) Given Consensus Rating of “Moderate Buy” by Analysts

AtriCure, Inc. (NASDAQ:ATRC) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $52.8333.

A number of research analysts have weighed in on ATRC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of AtriCure in a research note on Thursday. Canaccord Genuity Group raised their price target on shares of AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Zacks Research upgraded AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Citigroup reissued a “market outperform” rating on shares of AtriCure in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, January 21st.

AtriCure Trading Down 3.3%

Shares of AtriCure stock opened at $31.80 on Friday. The stock has a market capitalization of $1.58 billion, a PE ratio of -52.13 and a beta of 1.41. AtriCure has a 52 week low of $28.29 and a 52 week high of $43.18. The stock has a 50 day moving average price of $39.18 and a two-hundred day moving average price of $36.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.85 and a current ratio of 3.87.

Insiders Place Their Bets

In related news, Director Sven Wehrwein sold 4,967 shares of AtriCure stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $38.00, for a total transaction of $188,746.00. Following the sale, the director directly owned 34,374 shares in the company, valued at approximately $1,306,212. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Justin J. Noznesky sold 5,166 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total value of $192,640.14. Following the completion of the transaction, the insider directly owned 78,798 shares in the company, valued at approximately $2,938,377.42. This represents a 6.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,166 shares of company stock valued at $676,378. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of hedge funds have recently made changes to their positions in ATRC. Ameritas Investment Partners Inc. increased its holdings in AtriCure by 6.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,941 shares of the medical device company’s stock valued at $162,000 after purchasing an additional 312 shares during the period. PNC Financial Services Group Inc. grew its position in shares of AtriCure by 6.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the medical device company’s stock worth $218,000 after buying an additional 380 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of AtriCure by 5.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,512 shares of the medical device company’s stock worth $246,000 after buying an additional 385 shares during the last quarter. Scotia Capital Inc. increased its stake in shares of AtriCure by 1.2% during the third quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company’s stock valued at $1,328,000 after buying an additional 457 shares during the period. Finally, First Bank & Trust raised its holdings in shares of AtriCure by 6.0% during the fourth quarter. First Bank & Trust now owns 8,805 shares of the medical device company’s stock valued at $348,000 after acquiring an additional 495 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

AtriCure Company Profile

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.