AtriCure, Inc. (NASDAQ:ATRC) had its price target trimmed by Needham & Company LLC from $26.00 to $25.00 in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a buy rating on the medical device company’s stock.
Several other research firms have also recently weighed in on ATRC. Stifel Nicolaus reissued a buy rating and issued a $25.00 price target on shares of AtriCure in a report on Sunday, July 30th. Zacks Investment Research cut shares of AtriCure from a hold rating to a sell rating in a report on Tuesday, September 26th. BidaskClub cut shares of AtriCure from a strong-buy rating to a buy rating in a report on Monday, July 24th. Finally, Canaccord Genuity reissued a buy rating and issued a $28.00 price target on shares of AtriCure in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. AtriCure has an average rating of Buy and an average target price of $25.00.
Shares of AtriCure (NASDAQ ATRC) opened at $20.19 on Thursday. 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 issued its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.02. The company had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $43.44 million. AtriCure had a negative net margin of 19.40% and a negative return on equity of 20.28%. AtriCure’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) EPS. sell-side analysts forecast that AtriCure will post -0.96 earnings per share for the current fiscal year.
In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the stock in a transaction that occurred 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 approximately $671,260.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 11.90% of the company’s stock.
Large investors have recently made changes to their positions in the business. US Bancorp DE grew its position in shares of AtriCure by 152.1% during the 2nd quarter. US Bancorp DE now owns 4,202 shares of the medical device company’s stock worth $102,000 after purchasing an additional 2,535 shares in the last quarter. Sei Investments Co. grew its position in shares of AtriCure by 75.5% during the 2nd quarter. Sei Investments Co. now owns 6,933 shares of the medical device company’s stock worth $168,000 after purchasing an additional 2,983 shares in the last quarter. Legal & General Group Plc grew its position in shares of AtriCure by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock worth $208,000 after purchasing an additional 312 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of AtriCure during the 2nd quarter worth approximately $253,000. Finally, Commerce Bank acquired a new position in shares of AtriCure during the 2nd quarter worth approximately $266,000. Hedge funds and other institutional investors own 81.34% 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.
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