AtriCure, Inc. (NASDAQ:ATRC) Receives $52.83 Consensus PT from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $48.4286.

ATRC has been the subject of several research reports. UBS Group cut their price target on AtriCure from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup reaffirmed an “outperform” rating on shares of AtriCure in a report on Wednesday. Zacks Research lowered shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Citizens Jmp lowered their price target on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of AtriCure in a report on Thursday, February 12th.

AtriCure Trading Up 0.4%

NASDAQ:ATRC opened at $32.38 on Friday. AtriCure has a 12 month low of $28.29 and a 12 month high of $43.18. The company has a current ratio of 3.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $38.41 and its 200 day moving average is $36.74. The stock has a market capitalization of $1.61 billion, a PE ratio of -134.92 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. The business had revenue of $140.50 million during the quarter, compared to analyst estimates of $140.50 million. AtriCure had a negative return on equity of 1.17% and a negative net margin of 2.14%.AtriCure’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.33) earnings per share. Sell-side analysts expect that AtriCure will post -0.6 earnings per share for the current year.

Insider Buying and Selling at AtriCure

In related news, Director Sven Wehrwein sold 4,967 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $38.00, for a total transaction of $188,746.00. Following the sale, the director directly owned 34,374 shares in the company, valued at approximately $1,306,212. The trade was a 12.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin J. Noznesky sold 5,166 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total value of $192,640.14. Following the sale, the insider directly owned 78,798 shares in the company, valued at $2,938,377.42. This trade represents a 6.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 15,166 shares of company stock worth $569,218. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of AtriCure by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,903,755 shares of the medical device company’s stock worth $193,993,000 after buying an additional 62,861 shares in the last quarter. Wellington Management Group LLP increased its holdings in AtriCure by 8.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock worth $151,296,000 after acquiring an additional 322,818 shares during the period. Hood River Capital Management LLC lifted its stake in AtriCure by 2.1% in the 2nd quarter. Hood River Capital Management LLC now owns 3,061,059 shares of the medical device company’s stock worth $100,311,000 after purchasing an additional 61,852 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in AtriCure by 0.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,189,739 shares of the medical device company’s stock worth $38,969,000 after purchasing an additional 3,674 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in AtriCure by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,181,737 shares of the medical device company’s stock valued at $38,731,000 after purchasing an additional 14,577 shares during the period. 99.11% of the stock is currently owned by institutional investors.

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.