AtriCure (NASDAQ:ATRC) Upgraded by Wall Street Zen to Buy Rating

AtriCure (NASDAQ:ATRC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently issued reports on the stock. 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 report on Wednesday, April 30th. Piper Sandler boosted their price target on shares of AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. BTIG Research reissued a "buy" rating on shares of AtriCure in a report on Thursday, March 27th. Stifel Nicolaus boosted their price target on shares of AtriCure from $36.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, 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. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $50.67.

AtriCure Stock Performance

AtriCure stock traded up $0.54 during mid-day trading on Friday, reaching $34.08. The company's stock had a trading volume of 531,987 shares, compared to its average volume of 649,696. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -35.87 and a beta of 1.57. The business has a 50 day moving average price of $32.32 and a 200-day moving average price of $34.73. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. AtriCure has a twelve month low of $18.94 and a twelve month high of $43.11.

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

Insiders Place Their Bets

In other AtriCure news, Director Karen Prange sold 6,100 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $38.12, for a total value of $232,532.00. Following the sale, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. The trade was a 25.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in AtriCure in the first quarter worth about $158,000. Advisors Capital Management LLC increased its stake in AtriCure by 64.8% in the 1st quarter. Advisors Capital Management LLC now owns 158,316 shares of the medical device company's stock worth $5,107,000 after purchasing an additional 62,234 shares in the last quarter. Acadian Asset Management LLC increased its stake in AtriCure by 2,690.0% in the 1st quarter. Acadian Asset Management LLC now owns 195,582 shares of the medical device company's stock worth $6,304,000 after purchasing an additional 188,572 shares in the last quarter. Jane Street Group LLC increased its stake in AtriCure by 658.3% in the 1st quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company's stock worth $3,254,000 after purchasing an additional 87,553 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 worth $70,872,000 after purchasing an additional 1,385,544 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

About AtriCure

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.