AtriCure, Inc. (ATRC) PT Lowered to $24.00 at Canaccord Genuity

AtriCure, Inc. (NASDAQ:ATRC) had its price objective reduced by Canaccord Genuity from $28.00 to $24.00 in a report published on Thursday, November 2nd. They currently have a buy rating on the medical device company’s stock.

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of AtriCure from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of AtriCure from a sell rating to a hold rating in a research note on Monday, October 2nd. Stifel Nicolaus reissued a buy rating and set a $25.00 target price on shares of AtriCure in a research note on Sunday, July 30th. Finally, Needham & Company LLC restated a buy rating and set a $26.00 price target (up from $25.00) on shares of AtriCure in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $25.00.

AtriCure (NASDAQ:ATRC) opened at $18.18 on Thursday. AtriCure has a fifty-two week low of $14.78 and a fifty-two week high of $25.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.65 and a current ratio of 2.28.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The firm had revenue of $42.20 million during the quarter, compared to analyst estimates of $43.44 million. AtriCure had a negative net margin of 19.40% and a negative return on equity of 20.28%. AtriCure’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) EPS. equities research analysts expect that AtriCure will post -0.96 EPS for the current fiscal year.

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In other AtriCure news, Director B Kristine Johnson bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average cost of $18.36 per share, for a total transaction of $27,540.00. Following the acquisition, the director now directly owns 10,969 shares of the company’s stock, valued at $201,390.84. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 11.90% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its holdings in shares of AtriCure by 9.2% during the third quarter. Neuberger Berman Group LLC now owns 900,296 shares of the medical device company’s stock valued at $20,140,000 after acquiring an additional 75,827 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of AtriCure by 18.9% during the third quarter. Allianz Asset Management GmbH now owns 183,647 shares of the medical device company’s stock valued at $4,108,000 after acquiring an additional 29,153 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of AtriCure during the third quarter valued at approximately $457,000. Schwab Charles Investment Management Inc. raised its holdings in shares of AtriCure by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 170,101 shares of the medical device company’s stock valued at $3,806,000 after acquiring an additional 9,070 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of AtriCure during the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.

Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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