AtriCure, Inc. (NASDAQ:ATRC) Receives $50.67 Average Price Target from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $50.50.

A number of research firms have recently issued reports on ATRC. Wall Street Zen downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. Needham & Company LLC boosted their price target on shares of AtriCure from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a research note on Wednesday, April 30th. Finally, UBS Group reduced their price target on shares of AtriCure from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th.

Insider Activity at AtriCure

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $33.44, for a total value of $83,600.00. Following the sale, the insider directly owned 73,550 shares of the company’s stock, valued at approximately $2,459,512. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of large investors have recently modified their holdings of ATRC. American Century Companies Inc. purchased a new stake in shares of AtriCure in the 4th quarter valued at approximately $516,000. Sei Investments Co. increased its position in shares of AtriCure by 6.1% in the 4th quarter. Sei Investments Co. now owns 107,290 shares of the medical device company’s stock valued at $3,279,000 after purchasing an additional 6,152 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of AtriCure in the 4th quarter valued at approximately $321,000. LPL Financial LLC boosted its holdings in shares of AtriCure by 5.4% in the 4th quarter. LPL Financial LLC now owns 11,465 shares of the medical device company’s stock valued at $350,000 after buying an additional 584 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AtriCure by 43.1% in the 4th quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company’s stock valued at $11,160,000 after buying an additional 110,039 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Stock Performance

NASDAQ:ATRC opened at $35.13 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.11 and a quick ratio of 2.88. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -45.62 and a beta of 1.56. The company’s 50-day moving average is $32.28 and its two-hundred day moving average is $34.31. AtriCure has a 1-year low of $20.20 and a 1-year high of $43.11.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, July 29th. The medical device company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.13. The company had revenue of $136.14 million for the quarter, compared to analyst estimates of $130.17 million. AtriCure had a negative net margin of 7.27% and a negative return on equity of 4.21%. AtriCure’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) EPS. Analysts forecast that AtriCure will post -0.6 EPS for the current 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.