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

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been given an average rating of “Buy” by the seven brokerages that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $49.78.

ATRC has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday. Stifel Nicolaus reduced their price objective on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Canaccord Genuity Group decreased their target price on shares of AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday. Needham & Company LLC cut their price target on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Oppenheimer upgraded AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Tuesday, April 23rd.

Insider Activity

In related news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the transaction, the insider now owns 74,284 shares in the company, valued at approximately $2,727,708.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now directly owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the sale, the insider now directly owns 74,284 shares in the company, valued at $2,727,708.48. The disclosure for this sale can be found here. Insiders have sold 14,616 shares of company stock valued at $504,932 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D boosted its position in AtriCure by 31.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 68,188 shares of the medical device company’s stock worth $2,434,000 after purchasing an additional 16,168 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in AtriCure by 165.8% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock worth $4,409,000 after buying an additional 77,055 shares in the last quarter. CenterBook Partners LP acquired a new stake in AtriCure during the third quarter valued at $770,000. Decheng Capital Management III Cayman LLC acquired a new position in shares of AtriCure in the third quarter worth about $2,026,000. Finally, Envestnet Asset Management Inc. boosted its position in AtriCure by 127.9% during the third quarter. Envestnet Asset Management Inc. now owns 116,990 shares of the medical device company’s stock worth $5,124,000 after purchasing an additional 65,653 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Trading Down 6.0 %

NASDAQ:ATRC opened at $20.89 on Friday. The firm has a 50-day simple moving average of $28.81 and a 200-day simple moving average of $33.13. AtriCure has a one year low of $20.19 and a one year high of $59.61. The firm has a market cap of $1.01 billion, a P/E ratio of -26.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.66 and a current ratio of 3.57.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $108.90 million for the quarter, compared to the consensus estimate of $106.86 million. AtriCure had a negative net margin of 8.98% and a negative return on equity of 7.82%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business posted ($0.23) EPS. Equities analysts anticipate that AtriCure will post -0.71 EPS for the current fiscal year.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.