BTIG Research Reaffirms “Buy” Rating for AtriCure (NASDAQ:ATRC)

AtriCure (NASDAQ:ATRCGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research report issued on Wednesday,Benzinga reports. They presently have a $54.00 target price on the medical device company’s stock. BTIG Research’s target price suggests a potential upside of 63.79% from the company’s previous close.

A number of other research firms have also recently weighed in on ATRC. Canaccord Genuity Group lifted their price objective on AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Oppenheimer downgraded shares of AtriCure from an “outperform” rating to a “market perform” rating in a report on Wednesday. Citigroup reissued an “outperform” rating on shares of AtriCure in a research note on Wednesday. Zacks Research raised shares of AtriCure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. lowered AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price target for the company. in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.57.

Read Our Latest Report on AtriCure

AtriCure Trading Up 1.0%

Shares of AtriCure stock opened at $32.97 on Wednesday. AtriCure has a 1-year low of $28.29 and a 1-year high of $43.18. The company’s fifty day simple moving average is $38.77 and its 200-day simple moving average is $36.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.85. The stock has a market capitalization of $1.64 billion, a PE ratio of -54.05 and a beta of 1.41.

AtriCure (NASDAQ:ATRCGet Free Report) last announced its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative return on equity of 2.54% and a negative net margin of 5.55%.The company had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $140.50 million. During the same period last year, the firm earned ($0.33) EPS. AtriCure’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities analysts anticipate that AtriCure will post -0.6 earnings per share for the current year.

Insider Buying and Selling at AtriCure

In other news, insider Justin J. Noznesky sold 5,166 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total transaction of $192,640.14. Following the completion of the transaction, the insider directly owned 78,798 shares in the company, valued at approximately $2,938,377.42. This represents a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maggie Yuen sold 3,000 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $35.72, for a total transaction of $107,160.00. Following the transaction, the director owned 11,371 shares of the company’s stock, valued at $406,172.12. This trade represents a 20.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,166 shares of company stock valued at $676,378 in the last 90 days. Insiders own 3.50% of the company’s stock.

Institutional Trading of AtriCure

Hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its position in AtriCure by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,941 shares of the medical device company’s stock worth $162,000 after acquiring an additional 312 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of AtriCure by 6.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the medical device company’s stock worth $218,000 after purchasing an additional 380 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of AtriCure by 5.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,512 shares of the medical device company’s stock worth $246,000 after purchasing an additional 385 shares during the period. Smartleaf Asset Management LLC increased its position in shares of AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after purchasing an additional 429 shares during the last quarter. Finally, Scotia Capital Inc. raised its holdings in AtriCure by 1.2% during the 3rd quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company’s stock valued at $1,328,000 after buying an additional 457 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure News Summary

Here are the key news stories impacting AtriCure this week:

About AtriCure

(Get Free Report)

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.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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