AtriCure, Inc. (NASDAQ:ATRC) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: Eleven research firms give AtriCure an average rating of "Moderate Buy" (1 sell, 3 hold, 6 buy, 1 strong buy) with a mean 1‑year price target of $48.43.
• Operational and financial snapshot: the company beat last quarter's EPS estimate ($0.06 vs. -$0.04) and revenue rose 13.1% year‑over‑year, but AtriCure remains unprofitable (PE -121.13) and analysts expect -0.6 EPS for the current year; the stock trades near $29 with a 1‑year range of $27.31–$43.18.
• Insider and institutional activity: an insider sold 5,000 shares in March (insiders own ~3.5%), while institutional and hedge fund ownership is reported at about 99.11%.

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $48.4286.

ATRC has been the topic of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of AtriCure in a research note on Wednesday, January 21st. Citigroup restated an "outperform" rating on shares of AtriCure in a report on Wednesday, February 18th. UBS Group decreased their target price on AtriCure from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Wall Street Zen lowered AtriCure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 28th. Finally, Canaccord Genuity Group dropped their price target on AtriCure from $64.00 to $53.00 and set a "buy" rating for the company in a report on Wednesday, February 18th.

AtriCure Price Performance

ATRC opened at $29.07 on Friday. The stock's fifty day simple moving average is $32.10 and its 200 day simple moving average is $35.40. AtriCure has a 1-year low of $27.31 and a 1-year high of $43.18. The stock has a market cap of $1.45 billion, a PE ratio of -121.13 and a beta of 1.43. The company has a current ratio of 3.96, a quick ratio of 2.99 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.10. The firm had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.50 million. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The company's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.33) earnings per share. As a group, research analysts expect that AtriCure will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In other AtriCure news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the transaction, the insider owned 96,875 shares in the company, valued at $2,889,781.25. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AtriCure

Several institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd raised its stake in AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company's stock worth $29,000 after purchasing an additional 538 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in AtriCure by 1,818.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company's stock valued at $40,000 after purchasing an additional 1,073 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of AtriCure during the 2nd quarter worth approximately $37,000. Smartleaf Asset Management LLC increased its holdings in shares of AtriCure by 59.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company's stock worth $46,000 after purchasing an additional 429 shares during the period. Finally, First Horizon Corp bought a new position in shares of AtriCure during the third quarter worth approximately $42,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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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