AtriCure (NASDAQ:ATRC) Upgraded by Freedom Capital to “Strong-Buy” Rating

Freedom Capital upgraded shares of AtriCure (NASDAQ:ATRC) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Citizens Jmp cut their target price on AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of AtriCure in a report on Thursday, February 12th. Zacks Research downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, UBS Group decreased their target price on AtriCure from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.43.

AtriCure Stock Performance

ATRC stock opened at $29.07 on Wednesday. The firm has a 50 day moving average of $32.30 and a two-hundred day moving average of $35.43. AtriCure has a 12 month low of $27.31 and a 12 month high of $43.18. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -121.13 and a beta of 1.43. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13.

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

Insider Activity at AtriCure

In related news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $29.83, for a total value of $149,150.00. Following the completion of the sale, the insider owned 96,875 shares in the company, valued at approximately $2,889,781.25. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of AtriCure by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,903,755 shares of the medical device company’s stock worth $193,993,000 after acquiring an additional 62,861 shares during the period. Wellington Management Group LLP increased its position in shares of AtriCure by 8.1% during the third quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock valued at $151,296,000 after purchasing an additional 322,818 shares during the period. Hood River Capital Management LLC increased its position in shares of AtriCure by 2.1% during the second quarter. Hood River Capital Management LLC now owns 3,061,059 shares of the medical device company’s stock valued at $100,311,000 after purchasing an additional 61,852 shares during the period. Neuberger Berman Group LLC raised its stake in shares of AtriCure by 0.3% in the second quarter. Neuberger Berman Group LLC now owns 1,189,739 shares of the medical device company’s stock valued at $38,969,000 after purchasing an additional 3,674 shares in the last quarter. Finally, First Light Asset Management LLC raised its stake in shares of AtriCure by 32.0% in the fourth quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock valued at $46,501,000 after purchasing an additional 285,083 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.