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

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have earned an average recommendation of "Buy" from the nine research firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $50.67.

Several research analysts recently commented on ATRC shares. Canaccord Genuity Group reduced 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. Needham & Company LLC reduced their price objective on shares of AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. UBS Group reduced their price objective on shares of AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. JMP Securities reiterated a "market outperform" rating and set a $60.00 price objective on shares of AtriCure in a research note on Wednesday, April 30th. Finally, BTIG Research reiterated a "buy" rating on shares of AtriCure in a research note on Thursday, March 27th.

AtriCure Stock Up 1.2%

Shares of NASDAQ:ATRC traded up $0.39 during trading hours on Thursday, hitting $31.78. The company's stock had a trading volume of 166,072 shares, compared to its average volume of 605,483. AtriCure has a 52 week low of $20.20 and a 52 week high of $43.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.11 and a quick ratio of 2.88. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -39.23 and a beta of 1.56. The firm's fifty day moving average price is $32.46 and its 200 day moving average price is $34.36.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. AtriCure had a negative net margin of 7.95% and a negative return on equity of 5.68%. The business had revenue of $123.62 million during the quarter, compared to analyst estimates of $122.92 million. During the same quarter in the previous year, the business posted ($0.28) EPS. The company's quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts expect that AtriCure will post -0.6 EPS for the current year.

Insider Transactions at AtriCure

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $33.44, for a total transaction of $83,600.00. Following the transaction, the insider owned 73,550 shares in the company, valued at approximately $2,459,512. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in AtriCure by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 4,714,371 shares of the medical device company's stock valued at $152,086,000 after purchasing an additional 61,166 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in shares of AtriCure by 3.3% in the 4th quarter. Hood River Capital Management LLC now owns 2,923,731 shares of the medical device company's stock valued at $89,349,000 after acquiring an additional 93,131 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AtriCure by 170.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,196,914 shares of the medical device company's stock valued at $70,872,000 after acquiring an additional 1,385,544 shares during the last quarter. First Light Asset Management LLC boosted its holdings in shares of AtriCure by 5.6% in the 4th quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company's stock valued at $60,179,000 after acquiring an additional 103,685 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of AtriCure by 26.3% in the 1st quarter. Neuberger Berman Group LLC now owns 1,186,065 shares of the medical device company's stock valued at $38,365,000 after acquiring an additional 246,877 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.