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

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) has been assigned an average rating of "Buy" from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $50.67.

Several brokerages recently weighed in on ATRC. JPMorgan Chase & Co. cut their price target on AtriCure from $51.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. UBS Group cut their price target on AtriCure from $60.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Canaccord Genuity Group cut their price target on AtriCure from $66.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, March 28th. BTIG Research restated a "buy" rating on shares of AtriCure in a research note on Thursday, March 27th. Finally, Needham & Company LLC cut their price objective on AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th.

AtriCure Stock Down 2.5%

AtriCure stock opened at $31.39 on Thursday. 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 stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -38.75 and a beta of 1.56. AtriCure has a 1-year low of $20.20 and a 1-year high of $43.11. The business has a fifty day moving average price of $32.54 and a 200-day moving average price of $34.33.

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

Insider Activity

In other AtriCure news, insider Vinayak Doraiswamy sold 2,500 shares of the firm's 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 owned 73,550 shares of the company's stock, valued at approximately $2,459,512. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On AtriCure

Hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. acquired a new stake in shares of AtriCure during the fourth quarter worth about $295,000. JPMorgan Chase & Co. lifted its position in AtriCure by 43.1% in the fourth quarter. JPMorgan Chase & Co. now owns 365,183 shares of the medical device company's stock valued at $11,160,000 after purchasing an additional 110,039 shares during the period. Assenagon Asset Management S.A. lifted its position in AtriCure by 5.0% in the first quarter. Assenagon Asset Management S.A. now owns 146,096 shares of the medical device company's stock valued at $4,713,000 after purchasing an additional 6,995 shares during the period. GAMMA Investing LLC lifted its position in AtriCure by 9,664.9% in the first quarter. GAMMA Investing LLC now owns 3,613 shares of the medical device company's stock valued at $112,000 after purchasing an additional 3,576 shares during the period. Finally, Sei Investments Co. lifted its position in AtriCure by 6.1% in the fourth quarter. Sei Investments Co. now owns 107,290 shares of the medical device company's stock valued at $3,279,000 after purchasing an additional 6,152 shares during the period. 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.

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