Canaccord Genuity reiterated their buy rating on shares of AtriCure, Inc. (NASDAQ:ATRC) in a research report report published on Monday. They currently have a $28.00 price objective on the medical device company’s stock.
ATRC has been the subject of several other reports. BidaskClub cut shares of AtriCure from a hold rating to a sell rating in a research report on Saturday, August 5th. Needham & Company LLC reaffirmed a buy rating and set a $26.00 price target (up from $25.00) on shares of AtriCure in a report on Friday, July 28th. Zacks Investment Research raised shares of AtriCure from a sell rating to a hold rating in a report on Monday, October 2nd. Leerink Swann reaffirmed an outperform rating and set a $26.00 price target on shares of AtriCure in a report on Friday, June 16th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $25.00 price target on shares of AtriCure in a report on Sunday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. AtriCure presently has an average rating of Buy and a consensus price target of $25.83.
AtriCure (NASDAQ:ATRC) last issued its earnings results on Thursday, July 27th. The medical device company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.05. The company had revenue of $45.23 million during the quarter, compared to analysts’ expectations of $44.15 million. AtriCure had a negative net margin of 19.56% and a negative return on equity of 19.56%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.26) EPS.
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In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total transaction of $224,000.00. Following the transaction, the director now owns 29,967 shares in the company, valued at $671,260.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Neuberger Berman Group LLC acquired a new position in AtriCure during the first quarter worth $10,849,000. Loomis Sayles & Co. L P grew its stake in shares of AtriCure by 73.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 771,365 shares of the medical device company’s stock worth $14,772,000 after acquiring an additional 326,712 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of AtriCure by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 3,313,575 shares of the medical device company’s stock worth $63,456,000 after acquiring an additional 176,025 shares in the last quarter. FMR LLC grew its stake in shares of AtriCure by 2.7% in the 1st quarter. FMR LLC now owns 4,950,000 shares of the medical device company’s stock worth $94,793,000 after acquiring an additional 130,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of AtriCure by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 1,393,971 shares of the medical device company’s stock worth $26,695,000 after acquiring an additional 75,266 shares in the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.
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.
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