AtriCure, Inc. (NASDAQ:ATRC) Given Consensus Recommendation of “Buy” by Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned an average recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have covered the stock in the last year is $50.67.

A number of equities research analysts have recently issued reports on ATRC shares. Oppenheimer boosted their price target on shares of AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. BTIG Research restated a “buy” rating on shares of AtriCure in a report on Thursday, March 27th. Piper Sandler boosted their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. UBS Group cut their price target on shares of AtriCure from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Stifel Nicolaus boosted their price target on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 13th.

AtriCure Stock Down 1.0%

NASDAQ ATRC opened at $31.48 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The company’s 50 day simple moving average is $32.59 and its 200 day simple moving average is $34.85. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The company has a market capitalization of $1.56 billion, a P/E ratio of -33.14 and a beta of 1.57.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. AtriCure had a negative net margin of 9.61% and a negative return on equity of 6.80%. The business had revenue of $123.62 million for the quarter, compared to the consensus estimate of $122.92 million. During the same period in the previous year, the firm earned ($0.28) EPS. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts expect that AtriCure will post -0.6 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In related news, Director Karen Prange sold 6,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total transaction of $232,532.00. Following the transaction, the director now directly owns 17,828 shares of the company’s stock, valued at approximately $679,603.36. The trade was a 25.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Blue Trust Inc. grew its position in AtriCure by 1.8% in the fourth quarter. Blue Trust Inc. now owns 14,751 shares of the medical device company’s stock worth $414,000 after acquiring an additional 265 shares in the last quarter. Invesco Ltd. raised its stake in AtriCure by 0.8% during the 4th quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock valued at $1,334,000 after purchasing an additional 334 shares during the last quarter. Perkins Capital Management Inc. raised its stake in AtriCure by 1.3% during the 4th quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock valued at $927,000 after purchasing an additional 400 shares during the last quarter. Truist Financial Corp raised its stake in AtriCure by 2.6% during the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock valued at $480,000 after purchasing an additional 403 shares during the last quarter. Finally, State of Wyoming raised its stake in AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 446 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other 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.