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

Key Points

• AtriCure currently has a consensus analyst rating of “Moderate Buy” from 11 research firms, with an average 12-month price target of about $48.71.
• Recent analyst moves were mixed: Canaccord Genuity raised its target to $55 and kept a buy rating, while other firms issued downgrades, including Zacks Research cutting the stock to hold.
• Shares were last seen at $34.28, below the consensus target, and the company’s stock is heavily held by institutions, which own 99.11% of shares.

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have received an average rating of "Moderate Buy" from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $48.7143.

A number of research firms recently issued reports on ATRC. Canaccord Genuity Group increased their target price on shares of AtriCure from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Freedom Capital upgraded shares of AtriCure to a "strong-buy" rating in a research note on Wednesday, April 1st. Wall Street Zen lowered shares of AtriCure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded shares of AtriCure from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Finally, Zacks Research lowered shares of AtriCure from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 4th.

Insider Transactions at AtriCure

In other AtriCure news, Director Karen Prange sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $28.65, for a total value of $85,950.00. Following the transaction, the director directly owned 26,373 shares of the company's stock, valued at $755,586.45. This trade represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.00% of the company's stock.

Institutional Investors Weigh In On AtriCure

A number of large investors have recently modified their holdings of ATRC. Geneos Wealth Management Inc. acquired a new position in AtriCure during the 2nd quarter worth approximately $37,000. Harbor Investment Advisory LLC purchased a new position in AtriCure in the 2nd quarter worth approximately $40,000. Smartleaf Asset Management LLC grew its position in AtriCure by 59.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company's stock valued at $46,000 after acquiring an additional 429 shares in the last quarter. Fifth Third Bancorp acquired a new stake in AtriCure in the first quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of AtriCure during the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 99.11% of the company's stock.

AtriCure Stock Performance

Shares of NASDAQ:ATRC opened at $34.28 on Monday. The business has a 50-day moving average of $28.66 and a two-hundred day moving average of $31.75. The firm has a market capitalization of $1.74 billion, a PE ratio of -342.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.29 and a quick ratio of 3.18. AtriCure has a 12 month low of $25.36 and a 12 month high of $43.18.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company's solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company's product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.

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