AtriCure, Inc. (NASDAQ:ATRC) Receives Consensus Recommendation of "Buy" from Analysts

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) has been assigned a consensus recommendation of "Buy" from the nine research firms that are currently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $50.67.

Several research analysts recently weighed in on ATRC shares. Needham & Company LLC dropped their price target on AtriCure from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. UBS Group dropped their price target on AtriCure from $60.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Piper Sandler upped their price target on AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Oppenheimer upped their price target on AtriCure from $36.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $60.00 target price on shares of AtriCure in a research report on Wednesday, April 30th.

AtriCure Stock Down 1.1%

NASDAQ:ATRC traded down $0.37 during trading hours on Friday, hitting $33.02. 477,982 shares of the company's stock traded hands, compared to its average volume of 647,771. The firm has a market cap of $1.63 billion, a P/E ratio of -34.76 and a beta of 1.59. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.65. The stock's fifty day moving average price is $32.50 and its two-hundred day moving average price is $34.61.

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

Insiders Place Their Bets

In other news, insider Vinayak Doraiswamy sold 2,500 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $33.44, for a total transaction of $83,600.00. Following the transaction, the insider now owns 73,550 shares of the company's stock, valued at approximately $2,459,512. This represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its holdings 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 valued at $47,000 after acquiring an additional 832 shares during the last quarter. US Bancorp DE grew its holdings in AtriCure by 98.1% in the 1st quarter. US Bancorp DE now owns 1,593 shares of the medical device company's stock valued at $51,000 after buying an additional 789 shares during the last quarter. Johnson Financial Group Inc. grew its holdings in AtriCure by 1,184.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company's stock valued at $49,000 after buying an additional 1,492 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in AtriCure in the 4th quarter valued at approximately $60,000. Finally, Venturi Wealth Management LLC grew its holdings in AtriCure by 1,337.6% in the 4th quarter. Venturi Wealth Management LLC now owns 2,257 shares of the medical device company's stock valued at $69,000 after buying an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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.