AtriCure (NASDAQ:ATRC) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of AtriCure (NASDAQ:ATRC) from a sell rating to a hold rating in a research note released on Wednesday morning.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler lowered their target price on AtriCure from $65.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on AtriCure from $34.00 to $30.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. BTIG Research cut their target price on shares of AtriCure from $58.00 to $53.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC decreased their price target on shares of AtriCure from $40.00 to $34.00 and set a buy rating for the company in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their price target on shares of AtriCure from $30.00 to $26.00 and set a buy rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $42.44.

AtriCure Price Performance

Shares of ATRC stock opened at $26.24 on Wednesday. The business has a fifty day simple moving average of $23.54 and a 200 day simple moving average of $25.27. The company has a market cap of $1.25 billion, a P/E ratio of -32.80 and a beta of 1.43. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. AtriCure has a twelve month low of $18.94 and a twelve month high of $44.92.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $116.27 million during the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) earnings per share. On average, sell-side analysts forecast that AtriCure will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling at AtriCure

In other news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of ATRC. Victory Capital Management Inc. lifted its holdings in shares of AtriCure by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after purchasing an additional 1,155 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AtriCure by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 367,151 shares of the medical device company’s stock worth $13,104,000 after buying an additional 4,165 shares in the last quarter. TimesSquare Capital Management LLC raised its position in AtriCure by 7.9% in the 4th quarter. TimesSquare Capital Management LLC now owns 976,110 shares of the medical device company’s stock valued at $34,837,000 after buying an additional 71,275 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of AtriCure by 20.5% in the fourth quarter. Teacher Retirement System of Texas now owns 20,051 shares of the medical device company’s stock valued at $716,000 after purchasing an additional 3,417 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of AtriCure by 28.5% in the 4th quarter. BNP Paribas Financial Markets now owns 100,842 shares of the medical device company’s stock worth $3,599,000 after buying an additional 22,388 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

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.