AtriCure (NASDAQ:ATRC) Stock Rating Lowered by Wall Street Zen

AtriCure (NASDAQ:ATRC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

Several other equities research analysts have also recently weighed in on ATRC. Stifel Nicolaus upped their price target on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Needham & Company LLC reduced their price target on shares of AtriCure from $51.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Canaccord Genuity Group cut their price objective on shares of AtriCure from $66.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. UBS Group cut 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. Finally, Piper Sandler raised their price objective on shares of AtriCure from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, AtriCure has a consensus rating of "Moderate Buy" and an average target price of $50.67.

AtriCure Stock Performance

Shares of NASDAQ:ATRC traded down $0.02 during midday trading on Friday, hitting $34.71. The company had a trading volume of 35,818 shares, compared to its average volume of 609,539. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -36.55 and a beta of 1.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62. The company has a fifty day moving average of $32.31 and a two-hundred day moving average of $34.67. AtriCure has a 12-month low of $18.94 and a 12-month high of $43.11.

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

Insider Transactions at AtriCure

In related news, insider Vinayak Doraiswamy sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $33.44, for a total value of $83,600.00. Following the completion of the transaction, the insider now directly owns 73,550 shares of the company's stock, valued at $2,459,512. This represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On AtriCure

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

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.