Zacks Research upgraded shares of AtriCure (NASDAQ:ATRC – Free Report) from a hold rating to a strong-buy rating in a research note published on Wednesday,Zacks reports.
ATRC has been the topic of several other reports. BTIG Research increased their price objective on shares of AtriCure from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James Financial set a $52.00 target price on shares of AtriCure in a report on Tuesday, July 21st. Citigroup reaffirmed a “market outperform” rating on shares of AtriCure in a research note on Wednesday, October 21st. Needham & Company LLC lifted their price target on shares of AtriCure from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Citizens Jmp lifted their target price on AtriCure from $52.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.80.
Check Out Our Latest Stock Analysis on AtriCure
AtriCure Stock Performance
AtriCure stock opened at $58.54 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $56.81 and a two-hundred day simple moving average of $38.73. The company has a market capitalization of $2.98 billion, a PE ratio of 195.14 and a beta of 1.23. AtriCure has a twelve month low of $25.36 and a twelve month high of $66.02.
AtriCure (NASDAQ:ATRC – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The medical device company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.23. AtriCure had a return on equity of 2.34% and a net margin of 1.85%. The business had revenue of $154.45 million during the quarter, compared to analyst estimates of $151.05 million. Research analysts expect that AtriCure will post 0.44 EPS for the current year.
Insider Buying and Selling at AtriCure
In related news, insider Karl Dahlquist sold 9,370 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $48.89, for a total transaction of $458,099.30. Following the sale, the insider owned 87,319 shares in the company, valued at approximately $4,269,025.91. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Regina Groves sold 5,313 shares of the 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 transaction, the director directly owned 34,546 shares in the company, valued at $1,873,084.12. The trade was a 13.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 39,026 shares of company stock worth $2,172,263. Corporate insiders own 4.00% of the company’s stock.
Institutional Trading of AtriCure
Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in AtriCure in the 2nd quarter valued at $125,198,000. Bank of America Corp DE purchased a new stake in shares of AtriCure in the 2nd quarter valued at about $24,465,000. Grandeur Peak Global Advisors LLC bought a new position in AtriCure in the second quarter valued at $16,435,000. Osterweis Capital Management Inc. bought a new position in shares of AtriCure during the 2nd quarter valued at $14,028,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of AtriCure during the second quarter valued at approximately $9,388,000. Institutional investors and hedge funds own 99.11% of the company’s stock.
About AtriCure
AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.
The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.
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