AtriCure, Inc. (NASDAQ:ATRC) Receives Average Recommendation of "Buy" from Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have been assigned a consensus recommendation of "Buy" from the nine brokerages that are currently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $50.67.

ATRC has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. JMP Securities restated a "market outperform" rating and issued a $60.00 price objective on shares of AtriCure in a research note on Wednesday, April 30th. Stifel Nicolaus upped their price objective on shares of AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Canaccord Genuity Group decreased their price objective on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Oppenheimer upped their price objective on shares of AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th.

Insider Transactions at AtriCure

In other news, Director Karen Prange sold 6,100 shares of AtriCure stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the transaction, the director now directly owns 17,828 shares of the company's stock, valued at approximately $679,603.36. The trade was a 25.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ATRC. First Horizon Advisors Inc. raised its position in shares of AtriCure by 135.3% during the 1st quarter. First Horizon Advisors Inc. now owns 1,447 shares of the medical device company's stock worth $47,000 after buying an additional 832 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of AtriCure by 1,184.1% during the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock worth $49,000 after buying an additional 1,492 shares in the last quarter. US Bancorp DE raised its position in shares of AtriCure by 98.1% during the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock worth $51,000 after buying an additional 789 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of AtriCure during the 4th quarter worth about $60,000. Finally, Venturi Wealth Management LLC raised its position in shares of AtriCure by 1,337.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock worth $69,000 after buying an additional 2,100 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Stock Down 1.0%

Shares of NASDAQ:ATRC opened at $31.48 on Wednesday. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.11. The stock has a market cap of $1.56 billion, a P/E ratio of -33.14 and a beta of 1.57. The business's 50 day moving average is $32.59 and its 200 day moving average is $34.85. The company has a quick ratio of 2.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.13.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.11. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. The company had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. During the same quarter in the prior year, the business earned ($0.28) earnings per share. AtriCure's revenue was up 13.5% on a year-over-year basis. Sell-side analysts predict that AtriCure will post -0.6 EPS for the current year.

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.

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