Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) Target Price at $55.57

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have been assigned an average rating of "Buy" from the five brokerages that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $55.57.

Several research analysts recently commented on the stock. UBS Group lifted their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. StockNews.com downgraded shares of AtriCure from a "hold" rating to a "sell" rating in a research note on Wednesday, March 27th. Needham & Company LLC lifted their target price on shares of AtriCure from $44.00 to $46.00 and gave the stock a "buy" rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus decreased their target price on shares of AtriCure from $50.00 to $42.00 and set a "buy" rating on the stock in a research note on Friday, February 16th.

Insider Activity at AtriCure

In related news, insider Karl S. Dahlquist sold 8,231 shares of AtriCure stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now owns 52,839 shares in the company, valued at $1,974,065.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Karl S. Dahlquist sold 1,885 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.16, for a total value of $60,621.60. Following the sale, the insider now directly owns 50,954 shares of the company's stock, valued at approximately $1,638,680.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl S. Dahlquist sold 8,231 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the sale, the insider now directly owns 52,839 shares in the company, valued at $1,974,065.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,116 shares of company stock worth $468,797 over the last quarter. Corporate insiders own 3.00% of the company's stock.

Institutional Trading of AtriCure

A number of hedge funds and other institutional investors have recently modified their holdings of ATRC. Invesco Ltd. grew its position in shares of AtriCure by 17.5% in the 1st quarter. Invesco Ltd. now owns 2,865,409 shares of the medical device company's stock worth $188,171,000 after buying an additional 427,792 shares during the period. First Light Asset Management LLC grew its position in AtriCure by 35.8% during the 1st quarter. First Light Asset Management LLC now owns 1,364,812 shares of the medical device company's stock valued at $89,627,000 after purchasing an additional 359,823 shares during the last quarter. Norges Bank purchased a new stake in AtriCure during the 4th quarter valued at about $15,621,000. Nuveen Asset Management LLC grew its position in AtriCure by 41.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 981,165 shares of the medical device company's stock valued at $48,430,000 after purchasing an additional 286,481 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in AtriCure by 366.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 342,987 shares of the medical device company's stock valued at $16,930,000 after purchasing an additional 269,454 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Price Performance

Shares of ATRC stock traded up $1.07 during trading hours on Tuesday, hitting $27.61. 1,010,757 shares of the company's stock were exchanged, compared to its average volume of 662,162. The company has a market capitalization of $1.34 billion, a PE ratio of -41.83 and a beta of 1.38. AtriCure has a 12-month low of $25.83 and a 12-month high of $59.61. The business's 50 day simple moving average is $32.32 and its 200-day simple moving average is $35.23. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.01. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The firm had revenue of $106.50 million for the quarter, compared to the consensus estimate of $103.68 million. During the same period last year, the firm posted ($0.09) earnings per share. The business's revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts anticipate that AtriCure will post -0.71 earnings per share for the current year.

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.