AtriCure, Inc. (NASDAQ:ATRC) Stock Has Consensus Price Target of $62.30 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on AtriCure, with a $62.30 average 12-month price target; ratings include six buys, one strong buy, four holds, and one sell.
• AtriCure beat quarterly expectations, reporting earnings per share of $0.17 versus a consensus loss of $0.06 and revenue of $154.45 million versus estimates of $151.05 million.
• Company insiders sold 39,026 shares worth about $2.17 million over the past 90 days; insiders own 4% of the stock, while institutional investors own 99.11%.

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $62.30.

A number of research analysts recently commented on ATRC shares. Citigroup reiterated a "market outperform" rating on shares of AtriCure in a research note on Wednesday, October 21st. Freedom Capital cut AtriCure from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Weiss Ratings upgraded AtriCure from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. UBS Group lowered AtriCure from a "buy" rating to a "sell" rating in a research note on Wednesday, October 21st. Finally, Canaccord Genuity Group lifted their price target on AtriCure from $55.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, November 4th.

Insider Activity

In other AtriCure news, insider Karl S. Dahlquist sold 9,370 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $48.89, for a total value of $458,099.30. Following the sale, the insider directly owned 87,319 shares in the company, valued at approximately $4,269,025.91. The trade was a 9.69% 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. Also, Director Regina E. Groves sold 5,313 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $54.22, for a total transaction of $288,070.86. Following the completion of the sale, the director directly owned 34,546 shares of the company's stock, valued at $1,873,084.12. The trade was a 13.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,026 shares of company stock worth $2,172,263 over the last 90 days. 4.00% of the stock is currently owned by company insiders.

Institutional Trading of AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Investment Advisory LLC bought a new stake in AtriCure during the second quarter worth approximately $40,000. Allworth Financial LP bought a new position in shares of AtriCure in the second quarter valued at $43,000. Fulcrum Asset Management LLP bought a new position in shares of AtriCure in the third quarter valued at $92,000. Integrated Wealth Concepts LLC bought a new position in shares of AtriCure in the second quarter valued at $46,000. Finally, Sterling Capital Management LLC lifted its position in shares of AtriCure by 841.1% during the 3rd quarter. Sterling Capital Management LLC now owns 1,647 shares of the medical device company's stock valued at $93,000 after acquiring an additional 1,472 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

AtriCure Stock Performance

NASDAQ:ATRC traded up $0.86 during mid-day trading on Friday, hitting $56.84. The stock had a trading volume of 558,769 shares, compared to its average volume of 794,900. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 189.47 and a beta of 1.23. The company has a 50 day simple moving average of $57.48 and a 200-day simple moving average of $39.17. AtriCure has a 52 week low of $25.36 and a 52 week high of $66.02. The company has a current ratio of 4.33, a quick ratio of 3.29 and a debt-to-equity ratio of 0.17.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The medical device company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.23. AtriCure had a net margin of 2.52% and a return on equity of 4.01%. The business had revenue of $154.45 million during the quarter, compared to the consensus estimate of $151.05 million. On average, research analysts expect that AtriCure will post 0.44 earnings per share for the current fiscal year.

AtriCure Company Profile

AtriCure, Inc. is a medical technology company that develops and sells products for the treatment of atrial fibrillation and other conditions addressed through cardiac surgery. Its technologies are used by surgeons and other medical professionals in hospital settings. The company's products include surgical ablation systems designed to treat irregular heart rhythms and devices for managing the left atrial appendage, a small pouch in the heart associated with stroke risk in some patients with atrial fibrillation.

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