Northland Securities Lowers AtriCure (NASDAQ:ATRC) to Market Perform

Northland Securities downgraded shares of AtriCure (NASDAQ:ATRC) from an outperform rating to a market perform rating in a research note released on Tuesday morning, Briefing.com Automated Import reports. The brokerage currently has $30.00 price objective on the medical device company’s stock.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut AtriCure from a buy rating to a hold rating in a research note on Tuesday, July 23rd. ValuEngine cut AtriCure from a strong-buy rating to a buy rating in a research note on Wednesday, June 19th. Finally, BidaskClub raised AtriCure from a buy rating to a strong-buy rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. AtriCure has a consensus rating of Buy and a consensus price target of $36.57.

ATRC stock opened at $26.94 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.72 and a quick ratio of 3.10. AtriCure has a 12-month low of $26.11 and a 12-month high of $36.49. The stock’s 50 day simple moving average is $31.03 and its 200 day simple moving average is $29.98.



AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 period in the prior year, the company posted ($0.19) EPS. The business’s revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts forecast that AtriCure will post -0.9 earnings per share for the current year.

In related news, SVP Justin J. Noznesky sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the senior vice president now owns 94,068 shares of the company’s stock, valued at $2,822,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael H. Carrel sold 1,454 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $33.00, for a total value of $47,982.00. Following the transaction, the chief executive officer now directly owns 637,557 shares of the company’s stock, valued at approximately $21,039,381. The disclosure for this sale can be found here. Insiders have sold 37,158 shares of company stock valued at $1,169,102 in the last ninety days. Company insiders own 8.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its position in shares of AtriCure by 109.7% in the 2nd quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 510 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of AtriCure by 114.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,597 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 853 shares during the period. Quantamental Technologies LLC acquired a new position in shares of AtriCure in the 1st quarter valued at $82,000. Captrust Financial Advisors acquired a new position in shares of AtriCure in the 2nd quarter valued at $134,000. Finally, Acadian Asset Management LLC boosted its position in shares of AtriCure by 100.8% in the 2nd quarter. Acadian Asset Management LLC now owns 4,623 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 2,321 shares during the period. Institutional investors and hedge funds own 89.99% of the company’s stock.

AtriCure Company Profile

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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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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