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

AtriCure, Inc. (NASDAQ:ATRC) has been assigned an average rating of “Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $42.44.

A number of research analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC decreased their price objective on AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Oppenheimer raised shares of AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a report on Tuesday, April 23rd. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st.

AtriCure Stock Performance

NASDAQ ATRC opened at $23.87 on Monday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -29.84 and a beta of 1.44. The stock has a 50-day moving average of $22.49 and a 200 day moving average of $25.96. The company has a current ratio of 4.13, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. AtriCure has a twelve month low of $18.94 and a twelve month high of $50.23.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The business had revenue of $116.27 million during the quarter, compared to the consensus estimate of $116.24 million. During the same period in the prior year, the company posted ($0.12) EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. Sell-side analysts anticipate that AtriCure will post -0.77 EPS for the current fiscal year.

Insider Activity at AtriCure

In other AtriCure news, insider Salvatore Privitera bought 5,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $22.25 per share, with a total value of $111,250.00. Following the completion of the purchase, the insider now directly owns 103,290 shares in the company, valued at $2,298,202.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Comerica Bank lifted 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 worth $77,000 after acquiring an additional 1,043 shares during the last quarter. Quest Partners LLC acquired a new position in AtriCure during the fourth quarter worth $103,000. Virtu Financial LLC purchased a new position in shares of AtriCure during the fourth quarter worth $213,000. Victory Capital Management Inc. grew its stake in shares of AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after buying an additional 1,155 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of AtriCure by 32.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after buying an additional 2,368 shares during the period. 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.