AtriCure, Inc. (ATRC) Downgraded by ValuEngine

ValuEngine downgraded shares of AtriCure, Inc. (NASDAQ:ATRC) from a hold rating to a sell rating in a report published on Wednesday morning.

Several other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of AtriCure from a sell rating to a hold rating in a report on Monday, October 2nd. Canaccord Genuity reiterated a buy rating and issued a $28.00 target price on shares of AtriCure in a report on Monday, October 9th. BidaskClub downgraded shares of AtriCure from a strong-buy rating to a buy rating in a report on Monday, July 24th. Stifel Nicolaus reiterated a buy rating and issued a $25.00 target price on shares of AtriCure in a report on Sunday, July 30th. Finally, Needham & Company LLC reissued a buy rating and issued a $26.00 price target (up previously from $25.00) on shares of AtriCure in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $25.00.

Shares of AtriCure (ATRC) traded down $0.11 during midday trading on Wednesday, hitting $18.06. 105,392 shares of the stock were exchanged, compared to its average volume of 200,589. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.28 and a quick ratio of 1.65. AtriCure has a fifty-two week low of $14.78 and a fifty-two week high of $25.18.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. AtriCure had a negative net margin of 19.40% and a negative return on equity of 20.28%. The firm had revenue of $42.20 million during the quarter, compared to the consensus estimate of $43.44 million. During the same quarter last year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. sell-side analysts expect that AtriCure will post -0.96 EPS for the current fiscal year.

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In related news, Director Elizabeth D. Krell sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total value of $224,000.00. Following the completion of the sale, the director now directly owns 29,967 shares of the company’s stock, valued at $671,260.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director B Kristine Johnson purchased 1,500 shares of AtriCure stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average cost of $18.36 per share, with a total value of $27,540.00. Following the completion of the transaction, the director now owns 10,969 shares of the company’s stock, valued at $201,390.84. The disclosure for this purchase can be found here. 10.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE lifted its position in AtriCure by 152.1% in the second quarter. US Bancorp DE now owns 4,202 shares of the medical device company’s stock valued at $102,000 after acquiring an additional 2,535 shares during the last quarter. Sei Investments Co. increased its stake in AtriCure by 75.5% in the second quarter. Sei Investments Co. now owns 6,933 shares of the medical device company’s stock valued at $168,000 after purchasing an additional 2,983 shares during the period. Legal & General Group Plc increased its stake in AtriCure by 3.8% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock valued at $208,000 after purchasing an additional 312 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in AtriCure in the third quarter valued at $205,000. Finally, Tudor Investment Corp ET AL acquired a new position in AtriCure in the second quarter valued at $253,000. 81.11% of the stock is owned by hedge funds and other institutional investors.

About AtriCure

AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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