AtriCure, Inc. (NASDAQ:ATRC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $48.7143.

Several equities analysts have recently weighed in on ATRC shares. Zacks Research lowered AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Weiss Ratings lowered shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Canaccord Genuity Group lifted their price target on shares of AtriCure from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Freedom Capital upgraded shares of AtriCure to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, Wall Street Zen lowered shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd.

Insider Buying and Selling at AtriCure

In related news, Director Karen Prange sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the completion of the sale, the director directly owned 26,373 shares of the company’s stock, valued at approximately $755,586.45. This represents a 10.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATRC. AQR Capital Management LLC boosted its position in shares of AtriCure by 1.0% in the first quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock worth $2,700,000 after buying an additional 837 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AtriCure by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock valued at $908,000 after buying an additional 1,230 shares during the period. Goldman Sachs Group Inc. lifted its position in AtriCure by 1.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock worth $27,830,000 after acquiring an additional 8,956 shares in the last quarter. Jane Street Group LLC lifted its position in AtriCure by 658.3% during the 1st quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock worth $3,254,000 after acquiring an additional 87,553 shares in the last quarter. Finally, Strs Ohio purchased a new position in AtriCure in the 1st quarter worth approximately $158,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Price Performance

Shares of AtriCure stock opened at $34.95 on Monday. AtriCure has a twelve month low of $25.36 and a twelve month high of $43.18. The stock has a market capitalization of $1.77 billion, a P/E ratio of -349.50 and a beta of 1.24. The company has a current ratio of 4.29, a quick ratio of 3.18 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $29.35 and its 200 day moving average price is $31.56.

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.