AtriCure (NASDAQ:ATRC) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded AtriCure from "strong‑buy" to "buy"; the analyst mix is one Strong Buy, six Buy, three Hold and one Sell, producing a MarketBeat consensus of Moderate Buy with a $48.43 price target.
• AtriCure beat Q4 EPS estimates ($0.06 vs. -$0.04) and reported revenue up 13.1% YoY to $140.5M; shares opened at $29.02, trade in a 52‑week range of $26.62–$43.18, and the company has a market cap of about $1.47B with a negative trailing P/E.
• Insider sale: Vinayak Doraiswamy sold 5,000 shares (~$149K) in March, and institutional ownership is very high at 99.11%, with notable position increases from firms such as Jane Street and Goldman Sachs.

AtriCure (NASDAQ:ATRC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other brokerages have also weighed in on ATRC. BTIG Research restated a "buy" rating and set a $54.00 price objective on shares of AtriCure in a research report on Wednesday, February 18th. Weiss Ratings restated a "sell (d-)" rating on shares of AtriCure in a research report on Monday, April 20th. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of AtriCure in a research report on Thursday, February 12th. JPMorgan Chase & Co. lowered AtriCure from an "overweight" rating to a "neutral" rating and set a $36.00 price objective for the company. in a research report on Wednesday, February 11th. Finally, Zacks Research cut AtriCure from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, AtriCure has a consensus rating of "Moderate Buy" and a consensus price target of $48.43.

AtriCure Trading Up 3.2%

Shares of ATRC stock opened at $29.02 on Friday. AtriCure has a 52-week low of $26.62 and a 52-week high of $43.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96. The firm has a market capitalization of $1.47 billion, a PE ratio of -120.92 and a beta of 1.28. The stock has a fifty day simple moving average of $29.44 and a two-hundred day simple moving average of $34.48.

AtriCure (NASDAQ:ATRC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The business had revenue of $140.50 million during the quarter, compared to analyst estimates of $140.50 million. During the same quarter in the prior year, the business posted ($0.33) EPS. AtriCure's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts predict that AtriCure will post 0.1 EPS for the current fiscal year.

Insider Activity at AtriCure

In related news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $29.83, for a total value of $149,150.00. Following the completion of the transaction, the insider owned 96,875 shares of the company's stock, valued at approximately $2,889,781.25. This trade represents a 4.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ATRC. AQR Capital Management LLC lifted its holdings in shares of AtriCure by 1.0% in the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company's stock valued at $2,700,000 after acquiring an additional 837 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AtriCure by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company's stock valued at $908,000 after acquiring an additional 1,230 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of AtriCure by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company's stock valued at $27,830,000 after acquiring an additional 8,956 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of AtriCure by 658.3% in the 1st quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company's stock valued at $3,254,000 after acquiring an additional 87,553 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of AtriCure in the 1st quarter valued at about $158,000. Institutional investors own 99.11% of the company's stock.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company's solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company's product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.

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