AtriCure's (ATRC) "Overweight" Rating Reaffirmed at Piper Sandler

Key Points

• Piper Sandler reaffirmed its Overweight rating on AtriCure and raised its price target from $60 to $70, implying 8.6% upside from the prior close.
• AtriCure beat quarterly earnings and revenue estimates, reporting EPS of $0.17 and revenue of $154.45 million. Shares rose 6.7% on Wednesday to $64.45.
• Analyst views remain mixed: six rate the stock Buy, five Hold and one Sell; MarketBeat’s consensus rating is Hold with a $58 price target.

AtriCure (NASDAQ:ATRC - Get Free Report)'s stock had its "overweight" rating reiterated by Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $70.00 price objective on the medical device company's stock, up from their prior price objective of $60.00. Piper Sandler's price target would suggest a potential upside of 8.60% from the stock's previous close.

Several other research firms have also issued reports on ATRC. Needham & Company LLC upped their price target on AtriCure from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday. Freedom Capital downgraded shares of AtriCure from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. UBS Group lowered shares of AtriCure from a "buy" rating to a "sell" rating in a research note on Wednesday, October 21st. BTIG Research increased their target price on shares of AtriCure from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Stifel Nicolaus set a $65.00 price target on shares of AtriCure in a research report on Thursday, September 17th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $58.00.

AtriCure Stock Up 6.7%

Shares of ATRC stock traded up $4.04 during trading hours on Wednesday, hitting $64.45. 473,347 shares of the company were exchanged, compared to its average volume of 870,469. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 307.90 and a beta of 1.23. AtriCure has a one year low of $25.36 and a one year high of $64.96. The business's 50-day simple moving average is $56.03 and its two-hundred day simple moving average is $38.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 4.22.

AtriCure (NASDAQ:ATRC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The medical device company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.23. AtriCure had a return on equity of 2.34% and a net margin of 1.85%. The firm had revenue of $154.45 million during the quarter, compared to analyst estimates of $151.05 million. Sell-side analysts predict that AtriCure will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other AtriCure news, insider Salvatore Privitera sold 7,763 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $52.50, for a total value of $407,557.50. Following the sale, the insider directly owned 150,921 shares of the company's stock, valued at $7,923,352.50. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Regina E. Groves sold 5,313 shares of the firm's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $54.22, for a total value of $288,070.86. Following the completion of the sale, the director 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. Insiders sold a total of 30,622 shares of company stock worth $1,626,003 in the last three months. 4.00% of the stock is owned by insiders.

Institutional Trading of AtriCure

A number of large investors have recently modified their holdings of ATRC. BlackRock Inc. bought a new position in AtriCure in the 2nd quarter valued at about $125,198,000. Bank of America Corp DE bought a new stake in shares of AtriCure during the 2nd quarter worth about $24,465,000. Grandeur Peak Global Advisors LLC acquired a new stake in shares of AtriCure in the 2nd quarter worth approximately $16,435,000. Osterweis Capital Management Inc. acquired a new stake in shares of AtriCure in the 2nd quarter worth approximately $14,028,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of AtriCure in the second quarter valued at approximately $9,388,000. Institutional investors and hedge funds own 99.11% of the company's stock.

Key Headlines Impacting AtriCure

Here are the key news stories impacting AtriCure this week:

• Positive Sentiment: AtriCure reported Q3 earnings of $0.17 per share and revenue of $154.45 million, topping estimates of $0.01 per share and $151.05 million, respectively. The company also moved from a year-ago loss of $0.01 per share to a profit. AtriCure beats Q3 earnings and revenue estimates
• Positive Sentiment: Needham raised its price target from $64 to $70 and kept a Buy rating. BTIG also raised its target to $70, reflecting improved analyst expectations after the quarterly results. Analysts boost forecasts after Q3 results
• Positive Sentiment: The company projects 2026 adjusted EBITDA of $91 million to $94 million and is targeting completion of BoxX-NoAF enrollment by year-end. AtriCure outlook and enrollment update
• Neutral Sentiment: AtriCure’s 2026 revenue forecast of $606 million to $610 million is broadly in line with the cited FactSet estimate of $606.2 million. AtriCure revenue outlook

About AtriCure

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company's product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.

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