AtriCure, Inc. (NASDAQ:ATRC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRCGet Free Report) have received a consensus rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $49.78.

Several research analysts have recently weighed in on ATRC shares. StockNews.com lowered shares of AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Canaccord Genuity Group lowered their price objective on shares of AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their price target on AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reduced their price objective on AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd.

View Our Latest Stock Analysis on ATRC

AtriCure Price Performance

AtriCure stock opened at $23.29 on Friday. The firm’s 50-day moving average is $22.36 and its two-hundred day moving average is $29.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.83. The stock has a market capitalization of $1.11 billion, a P/E ratio of -29.11 and a beta of 1.42. AtriCure has a 12-month low of $18.94 and a 12-month high of $59.61.

AtriCure (NASDAQ:ATRCGet Free Report) last released its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The firm had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $106.86 million. During the same period in the previous year, the firm posted ($0.23) earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. Equities analysts predict that AtriCure will post -0.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Salvatore Privitera bought 5,000 shares of AtriCure stock in a transaction dated Thursday, May 30th. The shares were acquired at an average cost of $22.25 per share, with a total value of $111,250.00. Following the completion of the transaction, the insider now owns 103,290 shares in the company, valued at approximately $2,298,202.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total transaction of $36,135.00. Following the completion of the sale, the insider now owns 71,284 shares in the company, valued at approximately $1,717,231.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Salvatore Privitera bought 5,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $22.25 per share, for a total transaction of $111,250.00. Following the completion of the transaction, the insider now owns 103,290 shares in the company, valued at $2,298,202.50. The disclosure for this purchase can be found here. 3.20% of the stock is owned by company insiders.

Institutional Trading of AtriCure

A number of hedge funds and other institutional investors have recently made changes to their positions in ATRC. Advisors Capital Management LLC increased its position in shares of AtriCure by 0.6% in the 3rd quarter. Advisors Capital Management LLC now owns 57,223 shares of the medical device company’s stock worth $2,506,000 after purchasing an additional 357 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in AtriCure by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,237 shares of the medical device company’s stock valued at $758,000 after buying an additional 484 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in AtriCure by 0.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 81,300 shares of the medical device company’s stock worth $3,561,000 after buying an additional 593 shares during the last quarter. ProShare Advisors LLC grew its position in shares of AtriCure by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after acquiring an additional 659 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of 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. Institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

(Get Free Report

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.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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