AtriCure, Inc. (NASDAQ:ATRC) Receives $48.43 Consensus Price Target from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $48.4286.

Several research analysts recently commented on ATRC shares. Wall Street Zen upgraded shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of AtriCure in a research note on Thursday, February 12th. BTIG Research reiterated a “buy” rating and set a $54.00 price objective on shares of AtriCure in a research note on Wednesday, February 18th. Canaccord Genuity Group reduced their price objective on shares of AtriCure from $64.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. lowered shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Wednesday, February 11th.

AtriCure Price Performance

Shares of ATRC stock opened at $28.22 on Friday. AtriCure has a 1-year low of $27.31 and a 1-year high of $43.18. The stock’s 50-day moving average is $31.54 and its 200 day moving average is $35.24. The company has a market cap of $1.41 billion, a P/E ratio of -117.58 and a beta of 1.43. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.96 and a quick ratio of 2.99.

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

Insider Activity at AtriCure

In related news, insider Vinayak Doraiswamy sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the transaction, the insider owned 96,875 shares in the company, valued at $2,889,781.25. The trade was a 4.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of AtriCure

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd boosted its stake in AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after purchasing an additional 538 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in AtriCure in the 2nd quarter worth approximately $37,000. Farther Finance Advisors LLC boosted its stake in AtriCure by 1,818.6% in the 3rd 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 in the last quarter. First Horizon Corp acquired a new stake in AtriCure in the 3rd quarter worth approximately $42,000. Finally, Smartleaf Asset Management LLC boosted its stake in AtriCure by 59.8% in 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 in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.