AtriCure (NASDAQ:ATRC) Stock Price Up 6.3% Following Analyst Upgrade

AtriCure, Inc. (NASDAQ:ATRC) shares were up 6.3% during trading on Wednesday after Needham & Company LLC raised their price target on the stock from $45.00 to $64.00. Needham & Company LLC currently has a buy rating on the stock. AtriCure traded as high as $52.00 and last traded at $51.9880. 126,350 shares were traded during trading, a decline of 84% from the average session volume of 785,052 shares. The stock had previously closed at $48.92.

A number of other analysts have also commented on the stock. Piper Sandler boosted their price target on shares of AtriCure from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Raymond James Financial set a $52.00 target price on shares of AtriCure in a report on Tuesday, July 21st. Weiss Ratings raised shares of AtriCure from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Citigroup restated a “market outperform” rating on shares of AtriCure in a report on Tuesday, July 21st. Finally, UBS Group decreased their price objective on shares of AtriCure from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and an average price target of $52.00.

Insider Buying and Selling at AtriCure

In related news, Director Karen Prange sold 3,564 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $38.80, for a total transaction of $138,283.20. Following the completion of the transaction, the director directly owned 22,809 shares in the company, valued at $884,989.20. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sven Wehrwein sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $37.84, for a total transaction of $946,000.00. Following the completion of the sale, the director directly owned 40,518 shares in the company, valued at $1,533,201.12. This represents a 38.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,616 shares of company stock worth $2,149,994 in the last three months. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of AtriCure

Several hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new position in AtriCure in the 2nd quarter worth about $37,000. Harbor Investment Advisory LLC purchased a new stake in AtriCure during the second quarter valued at approximately $40,000. Allworth Financial LP acquired a new stake in AtriCure in the second quarter valued at approximately $43,000. Smartleaf Asset Management LLC grew its holdings in AtriCure by 59.8% in the fourth 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. Finally, Fifth Third Bancorp acquired a new position in shares of AtriCure during the first quarter worth $51,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Price Performance

The stock has a 50-day moving average price of $38.70 and a two-hundred day moving average price of $32.41. The company has a current ratio of 4.22, a quick ratio of 3.19 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 244.39 and a beta of 1.26.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Thursday, July 23rd. The medical device company reported $0.18 EPS for the quarter. AtriCure had a return on equity of 2.34% and a net margin of 1.85%.The company had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.80 million. During the same quarter in the previous year, the firm posted ($0.13) EPS. AtriCure has set its FY 2026 guidance at 0.240-0.320 EPS. As a group, equities research analysts forecast that AtriCure, Inc. will post 0.29 EPS for the current year.

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.