AtriCure (ATRC) – Analysts’ Weekly Ratings Changes

AtriCure (NASDAQ: ATRC) has recently received a number of price target changes and ratings updates:

  • 3/7/2018 – AtriCure was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 2/27/2018 – AtriCure had its price target raised by analysts at Canaccord Genuity from $24.00 to $26.00. They now have a “buy” rating on the stock.
  • 2/27/2018 – AtriCure had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $23.00 price target on the stock. They wrote, “ATRC’s 4Q17 revenue was consistent with its 1/8/18 preannouncement while its EBITDA missed consensus and EPS beat consensus even excluding a $0.12 non-cash benefit. Management reiterated its 2018 revenue guidance of $190-196M vs. consensus of $195M. We believe the recent society guidelines, new products (AtriClip Pro-V and Flex-V), and surgeon training activities should drive strong growth. We believe that management’s more conservative guidance leaves room for upside and with ATRC shares trading at a large discount to peers (2018E EV/sales of 3.3x vs. small/mid-cap growth peers at a median of 6.4x), we reiterate our Buy rating.””
  • 2/23/2018 – AtriCure was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 2/15/2018 – AtriCure was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 1/16/2018 – AtriCure had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $23.00 price target on the stock, down previously from $25.00.

AtriCure Inc. (NASDAQ:ATRC) opened at $20.31 on Friday. The stock has a market cap of $697.77, a PE ratio of -24.47 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.58 and a quick ratio of 1.87. AtriCure Inc. has a one year low of $14.88 and a one year high of $25.18.

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AtriCure (NASDAQ:ATRC) last issued its earnings results on Monday, February 26th. The medical device company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.13. The company had revenue of $46.06 million for the quarter, compared to analyst estimates of $45.85 million. AtriCure had a negative net margin of 15.39% and a negative return on equity of 16.74%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.27) EPS. sell-side analysts expect that AtriCure Inc. will post -0.83 earnings per share for the current fiscal year.

In other news, Director Elizabeth D. Krell sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Justin J. Noznesky sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $17.03, for a total transaction of $68,120.00. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by company insiders.

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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