AtriCure (NASDAQ:ATRC) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded AtriCure to “strong-buy”, while analysts overall maintain a “moderate buy” consensus and an average price target of $62.30.
• AtriCure reported quarterly EPS of $0.17, beating the consensus estimate of a $0.06 loss, and revenue of $154.45 million, ahead of expectations.
• Analyst views are mixed: Piper Sandler and BTIG raised their price targets to $70, while UBS downgraded the stock to “sell” and Freedom Capital to “hold.”

AtriCure (NASDAQ:ATRC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the stock. Piper Sandler reiterated an "overweight" rating and issued a $70.00 target price (up from $60.00) on shares of AtriCure in a research note on Wednesday, November 4th. Raymond James Financial set a $52.00 target price on AtriCure in a research report on Tuesday, July 21st. Freedom Capital lowered AtriCure from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 2nd. UBS Group cut AtriCure from a "buy" rating to a "sell" rating in a report on Wednesday, October 21st. Finally, BTIG Research upped their price target on AtriCure from $63.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.30.

AtriCure Price Performance

NASDAQ:ATRC opened at $56.84 on Friday. The stock has a market cap of $2.89 billion, a P/E ratio of 136.54 and a beta of 1.23. AtriCure has a one year low of $25.36 and a one year high of $66.02. The company has a fifty day moving average price of $57.48 and a 200 day moving average price of $39.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.33 and a quick ratio of 3.29.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The medical device company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.23. The firm had revenue of $154.45 million during the quarter, compared to the consensus estimate of $151.05 million. AtriCure had a net margin of 2.52% and a return on equity of 4.01%. Analysts anticipate that AtriCure will post 0.44 earnings per share for the current year.

Insider Transactions at AtriCure

In other news, insider Karl Dahlquist sold 9,370 shares of AtriCure stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $48.89, for a total value of $458,099.30. Following the completion of the transaction, the insider owned 87,319 shares in the company, valued at approximately $4,269,025.91. The trade was a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Regina Groves sold 5,313 shares of the business's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $54.22, for a total value of $288,070.86. Following the completion of the transaction, the director directly owned 34,546 shares in the company, valued at $1,873,084.12. The trade was a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 39,026 shares of company stock valued at $2,172,263. Corporate insiders own 4.00% of the company's stock.

Hedge Funds Weigh In On AtriCure

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Investment Advisory LLC acquired a new stake in shares of AtriCure in the second quarter valued at $40,000. Allworth Financial LP acquired a new position in AtriCure during the 2nd quarter worth about $43,000. Integrated Wealth Concepts LLC acquired a new position in AtriCure during the 2nd quarter worth about $46,000. Fifth Third Bancorp acquired a new position in AtriCure during the 1st quarter worth about $51,000. Finally, Global Retirement Partners LLC acquired a new position in AtriCure during the 2nd quarter worth about $52,000. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Company Profile

AtriCure, Inc. is a medical technology company that develops and sells products for the treatment of atrial fibrillation and other conditions addressed through cardiac surgery. Its technologies are used by surgeons and other medical professionals in hospital settings. The company's products include surgical ablation systems designed to treat irregular heart rhythms and devices for managing the left atrial appendage, a small pouch in the heart associated with stroke risk in some patients with atrial fibrillation.

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