AtriCure (NASDAQ:ATRC) Upgraded by Oppenheimer to Outperform

AtriCure (NASDAQ:ATRC - Get Free Report) was upgraded by stock analysts at Oppenheimer from a "market perform" rating to an "outperform" rating in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a $32.00 price objective on the medical device company's stock. Oppenheimer's price target indicates a potential upside of 38.11% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reiterated a "buy" rating and issued a $46.00 price objective on shares of AtriCure in a research note on Wednesday, April 10th. Stifel Nicolaus dropped their price objective on shares of AtriCure from $50.00 to $42.00 and set a "buy" rating for the company in a research note on Friday, February 16th. StockNews.com cut shares of AtriCure from a "hold" rating to a "sell" rating in a research note on Wednesday, March 27th. Finally, UBS Group increased their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.63.

AtriCure Trading Up 2.0 %

Shares of ATRC stock traded up $0.46 during trading hours on Tuesday, reaching $23.17. 947,750 shares of the stock traded hands, compared to its average volume of 685,555. AtriCure has a 1-year low of $22.27 and a 1-year high of $59.61. The business has a fifty day moving average price of $30.44 and a 200 day moving average price of $33.92. The company has a quick ratio of 2.66, a current ratio of 3.57 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.12 billion, a PE ratio of -35.11 and a beta of 1.38.

AtriCure (NASDAQ:ATRC - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The firm's revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts forecast that AtriCure will post -0.71 EPS for the current year.

Insider Activity

In other news, insider Justin J. Noznesky sold 1,500 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $30.39, for a total value of $45,585.00. Following the transaction, the insider now owns 72,784 shares of the company's stock, valued at approximately $2,211,905.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the transaction, the insider now owns 72,784 shares of the company's stock, valued at approximately $2,211,905.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karl S. Dahlquist sold 1,885 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the sale, the insider now owns 50,954 shares in the company, valued at $1,638,680.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,116 shares of company stock valued at $468,797. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AtriCure

A number of institutional investors have recently added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new position in AtriCure during the third quarter worth $27,000. Arcadia Investment Management Corp MI bought a new position in AtriCure during the third quarter worth $28,000. Allspring Global Investments Holdings LLC boosted its position in AtriCure by 31.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company's stock worth $91,000 after purchasing an additional 497 shares during the period. HighMark Wealth Management LLC boosted its position in AtriCure by 175.6% during the third quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company's stock worth $124,000 after purchasing an additional 1,800 shares during the period. Finally, Quest Partners LLC bought a new position in AtriCure during the fourth quarter worth $103,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.