BidaskClub lowered shares of AtriCure (NASDAQ:ATRC) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday, BidAskClub reports.
Other research analysts also recently issued reports about the company. Needham & Company LLC set a $39.00 price target on AtriCure and gave the company a buy rating in a research note on Monday, August 12th. BTIG Research restated a buy rating and issued a $35.00 price target on shares of AtriCure in a research note on Tuesday, August 13th. Northland Securities downgraded AtriCure from an outperform rating to a market perform rating and set a $30.00 price target for the company. in a research note on Tuesday, August 13th. Zacks Investment Research downgraded AtriCure from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Finally, ValuEngine downgraded AtriCure from a strong-buy rating to a buy rating in a research note on Wednesday, June 19th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $36.57.
Shares of AtriCure stock opened at $27.32 on Thursday. The business’s 50 day simple moving average is $30.99 and its 200 day simple moving average is $29.97. AtriCure has a 52-week low of $26.11 and a 52-week high of $36.49. The firm has a market cap of $1.04 billion, a PE ratio of -29.06 and a beta of 0.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.10 and a current ratio of 3.72.
AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.01. AtriCure had a negative return on equity of 13.06% and a negative net margin of 9.46%. The business had revenue of $58.90 million for the quarter, compared to analyst estimates of $57.76 million. During the same quarter last year, the firm earned ($0.19) EPS. AtriCure’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities research analysts predict that AtriCure will post -0.9 EPS for the current year.
In other AtriCure news, CEO Michael H. Carrel sold 1,454 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.00, for a total value of $47,982.00. Following the completion of the transaction, the chief executive officer now directly owns 637,557 shares in the company, valued at $21,039,381. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Justin J. Noznesky sold 10,000 shares of AtriCure stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the senior vice president now owns 94,068 shares of the company’s stock, valued at $2,822,040. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,158 shares of company stock valued at $1,169,102. Corporate insiders own 8.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. boosted its stake in shares of AtriCure by 109.7% during the 2nd quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock worth $29,000 after acquiring an additional 510 shares during the period. Virginia Retirement Systems ET AL boosted its stake in shares of AtriCure by 4.7% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the medical device company’s stock worth $534,000 after acquiring an additional 800 shares during the period. Quantum Capital Management boosted its stake in shares of AtriCure by 0.7% during the 1st quarter. Quantum Capital Management now owns 127,035 shares of the medical device company’s stock worth $3,403,000 after acquiring an additional 845 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of AtriCure by 114.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,597 shares of the medical device company’s stock worth $48,000 after acquiring an additional 853 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of AtriCure by 6.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 16,738 shares of the medical device company’s stock worth $499,000 after acquiring an additional 1,006 shares during the period. Institutional investors own 89.99% of the company’s stock.
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.
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