AtriCure (NASDAQ:ATRC) Cut to "Hold" at Freedom Capital

Key Points

• Freedom Capital downgraded AtriCure to “Hold” from “Strong Buy,” although the broader analyst consensus remains “Moderate Buy,” with an average price target of $53.30.
• AtriCure shares opened at $55.14 and have gained 2.9%, trading near the upper end of their 52-week range. The company reported quarterly EPS of $0.18 and revenue of $153.6 million, exceeding consensus estimates.
• Insiders sold 74,868 shares worth approximately $3.32 million over the past three months, while institutional investors continue to own a substantial 99.11% of the company.

AtriCure (NASDAQ:ATRC - Get Free Report) was downgraded by equities researchers at Freedom Capital from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Friday, Zacks reports.

Several other equities analysts have also recently issued reports on the stock. Raymond James Financial set a $52.00 target price on shares of AtriCure in a research note on Tuesday, July 21st. Piper Sandler lifted their price objective on shares of AtriCure from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Needham & Company LLC upped their price objective on shares of AtriCure from $45.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Weiss Ratings upgraded AtriCure from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Finally, Stifel Nicolaus set a $65.00 target price on AtriCure in a research report on Thursday, September 17th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $53.30.

AtriCure Stock Up 2.9%

AtriCure stock opened at $55.14 on Friday. The business's 50-day moving average price is $49.44 and its 200 day moving average price is $36.38. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 262.58 and a beta of 1.24. AtriCure has a 52 week low of $25.36 and a 52 week high of $61.70.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The medical device company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.80 million. AtriCure had a return on equity of 2.34% and a net margin of 1.85%.During the same period in the previous year, the company posted ($0.13) earnings per share. AtriCure has set its FY 2026 guidance at 0.240-0.320 EPS. As a group, sell-side analysts anticipate that AtriCure will post 0.29 earnings per share for the current year.

Insider Activity at AtriCure

In other news, insider Karl S. Dahlquist sold 9,370 shares of AtriCure stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $48.89, for a total value of $458,099.30. Following the sale, the insider directly owned 87,319 shares of the company's stock, valued at $4,269,025.91. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin J. Noznesky sold 6,182 shares of AtriCure stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $38.80, for a total transaction of $239,861.60. Following the sale, the insider directly owned 100,219 shares in the company, valued at approximately $3,888,497.20. This trade represents a 5.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 74,868 shares of company stock valued at $3,317,897 in the last three months. Company insiders own 4.00% of the company's stock.

Hedge Funds Weigh In On AtriCure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Allworth Financial LP boosted its holdings in AtriCure by 372.8% in the 2nd quarter. Allworth Financial LP now owns 1,527 shares of the medical device company's stock valued at $43,000 after purchasing an additional 1,204 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of AtriCure by 43.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,983 shares of the medical device company's stock valued at $158,000 after buying an additional 1,205 shares during the period. Harbor Investment Advisory LLC acquired a new position in AtriCure in the 2nd quarter valued at about $40,000. Integrated Wealth Concepts LLC purchased a new stake in AtriCure during the second quarter worth about $46,000. Finally, State of Wyoming lifted its position in shares of AtriCure by 87.7% during the first quarter. State of Wyoming now owns 3,537 shares of the medical device company's stock worth $101,000 after purchasing an additional 1,653 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

About AtriCure

AtriCure, Inc is a medical device company focused on developing and commercializing technologies for the treatment of atrial fibrillation (AF) and related cardiac conditions. Its products are used primarily in cardiac surgery and electrophysiology procedures to create surgical lesions that interrupt abnormal electrical signals in the heart.

The company's portfolio includes the AtriCure Isolator Synergy ablation system, cryoablation products sold under the cryoICE brand, and the AtriClip system for the exclusion of the left atrial appendage, a potential source of blood clots in patients with AF.

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