AtriCure, Inc. (NASDAQ:ATRC) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• AtriCure, Inc. has received an average analyst recommendation of "Moderate Buy", with one analyst rating a sell and nine rating a buy, along with a 12-month price target averaging $50.89.
• The company's stock is down 0.8%, currently trading at $36.18, with a market cap of $1.80 billion and a PE ratio of -46.99.
• AtriCure reported quarterly earnings that exceeded expectations, posting revenue growth of 17.1% year-over-year, with quarterly earnings per share (EPS) of ($0.02) compared to analysts' estimates of ($0.15).

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) has earned an average rating of "Moderate Buy" from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $50.8889.

A number of research firms recently commented on ATRC. Wall Street Zen raised AtriCure from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. BTIG Research set a $54.00 price target on AtriCure in a report on Wednesday, July 30th. Needham & Company LLC boosted their price target on AtriCure from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AtriCure in a report on Wednesday.

AtriCure Stock Down 0.8%

NASDAQ ATRC opened at $36.18 on Friday. The stock's 50 day moving average is $35.94 and its 200 day moving average is $33.52. The company has a current ratio of 3.94, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. AtriCure has a 12 month low of $26.92 and a 12 month high of $43.11. The stock has a market cap of $1.80 billion, a PE ratio of -46.99 and a beta of 1.59.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The medical device company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.13. AtriCure had a negative return on equity of 4.20% and a negative net margin of 7.27%.The company had revenue of $136.14 million for the quarter, compared to analysts' expectations of $130.17 million. During the same period in the previous year, the firm earned ($0.17) EPS. The firm's revenue was up 17.1% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.390--0.340 EPS. Research analysts predict that AtriCure will post -0.6 EPS for the current fiscal year.

Insider Transactions at AtriCure

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $36.58, for a total transaction of $91,450.00. Following the sale, the insider directly owned 71,872 shares of the company's stock, valued at $2,629,077.76. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin J. Noznesky sold 3,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.30, for a total value of $108,900.00. Following the sale, the insider directly owned 83,964 shares in the company, valued at $3,047,893.20. This trade represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,952 shares of company stock valued at $655,633 over the last 90 days. Insiders own 3.50% of the company's stock.

Institutional Trading of AtriCure

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in shares of AtriCure by 2,690.0% during the 1st quarter. Acadian Asset Management LLC now owns 195,582 shares of the medical device company's stock worth $6,304,000 after acquiring an additional 188,572 shares in the last quarter. First Bank & Trust bought a new position in shares of AtriCure during the 2nd quarter valued at approximately $273,000. Envestnet Asset Management Inc. increased its position in shares of AtriCure by 22.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 56,656 shares of the medical device company's stock valued at $1,828,000 after purchasing an additional 10,570 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in shares of AtriCure during the 1st quarter valued at approximately $9,536,000. Finally, Assenagon Asset Management S.A. increased its position in shares of AtriCure by 5.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 146,096 shares of the medical device company's stock valued at $4,713,000 after purchasing an additional 6,995 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.