AtriCure Inc. (ATRC) Receives $24.33 Average PT from Analysts

AtriCure Inc. (NASDAQ:ATRC) has been given an average rating of “Hold” by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.33.

ATRC has been the topic of several analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $24.00 price target on shares of AtriCure in a research note on Sunday, December 10th. TheStreet cut shares of AtriCure from a “c-” rating to a “d+” rating in a research note on Wednesday, November 29th. ValuEngine cut shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Canaccord Genuity decreased their price target on shares of AtriCure from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. Finally, Needham & Company LLC decreased their price target on shares of AtriCure from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd.

In other news, CFO M. Andrew Wade sold 2,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $18.41, for a total transaction of $36,820.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its holdings 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 buying an additional 312 shares during the period. Voya Investment Management LLC raised its holdings in AtriCure by 7.9% in the second quarter. Voya Investment Management LLC now owns 17,158 shares of the medical device company’s stock valued at $416,000 after buying an additional 1,250 shares during the period. Teachers Advisors LLC raised its holdings in AtriCure by 1.7% in the second quarter. Teachers Advisors LLC now owns 78,341 shares of the medical device company’s stock valued at $1,900,000 after buying an additional 1,321 shares during the period. California Public Employees Retirement System raised its holdings in AtriCure by 4.3% in the second quarter. California Public Employees Retirement System now owns 36,100 shares of the medical device company’s stock valued at $875,000 after buying an additional 1,500 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in AtriCure by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 161,031 shares of the medical device company’s stock valued at $3,906,000 after buying an additional 1,789 shares during the period. Hedge funds and other institutional investors own 86.36% of the company’s stock.

Shares of AtriCure (NASDAQ ATRC) traded up $0.21 during midday trading on Friday, reaching $15.52. 480,100 shares of the company were exchanged, compared to its average volume of 187,678. The firm has a market cap of $527.80, a PE ratio of -15.22 and a beta of 0.39. AtriCure has a 12-month low of $14.88 and a 12-month high of $25.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.65 and a current ratio of 2.28.

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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.

Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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