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

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $48.4286.

A number of brokerages have commented on ATRC. UBS Group decreased their price objective on shares of AtriCure from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of AtriCure in a research note on Thursday, February 12th. Canaccord Genuity Group decreased their price target on shares of AtriCure from $64.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Citizens Jmp lowered their price target on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating for the company in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, January 21st.

AtriCure Trading Down 2.1%

Shares of ATRC opened at $29.39 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -122.46 and a beta of 1.42. The stock has a fifty day moving average price of $36.05 and a two-hundred day moving average price of $36.33. AtriCure has a 52-week low of $28.29 and a 52-week high of $43.18.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The company had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $140.50 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts predict that AtriCure will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On AtriCure

Institutional investors and hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd lifted its stake in shares of AtriCure by 197.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after acquiring an additional 538 shares during the period. Geneos Wealth Management Inc. acquired a new stake in AtriCure in the second quarter worth about $37,000. Farther Finance Advisors LLC increased its position in AtriCure by 1,818.6% in the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after purchasing an additional 1,073 shares during the period. First Horizon Corp bought a new stake in AtriCure during the 3rd quarter worth about $42,000. Finally, Smartleaf Asset Management LLC raised its holdings in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock worth $46,000 after purchasing an additional 429 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

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.