Analysts Set AtriCure Inc. (NASDAQ:ATRC) Target Price at $36.00

AtriCure Inc. (NASDAQ:ATRC) has been given an average recommendation of “Buy” by the eight analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $36.00.

A number of equities analysts have weighed in on the company. BidaskClub raised AtriCure from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 3rd. Zacks Investment Research lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Finally, ValuEngine lowered shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd.

In related news, CFO M. Andrew Wade sold 11,705 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $30.00, for a total value of $351,150.00. Following the completion of the sale, the chief financial officer now directly owns 144,715 shares of the company’s stock, valued at approximately $4,341,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Justin J. Noznesky sold 29,134 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $32.89, for a total transaction of $958,217.26. Following the completion of the sale, the senior vice president now directly owns 106,568 shares of the company’s stock, valued at $3,505,021.52. The disclosure for this sale can be found here. Insiders sold a total of 64,385 shares of company stock valued at $2,086,385 over the last three months. 8.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors purchased a new stake in AtriCure in the 2nd quarter worth approximately $134,000. First Light Asset Management LLC boosted its stake in AtriCure by 21.6% in the 2nd quarter. First Light Asset Management LLC now owns 1,111,740 shares of the medical device company’s stock worth $33,174,000 after purchasing an additional 197,433 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in AtriCure by 2.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 211,390 shares of the medical device company’s stock worth $6,308,000 after purchasing an additional 4,506 shares during the period. Point72 Asset Management L.P. bought a new position in AtriCure in the 3rd quarter worth approximately $2,682,000. Finally, Russell Investments Group Ltd. bought a new position in AtriCure in the 3rd quarter worth approximately $74,000. 88.41% of the stock is owned by institutional investors.

Shares of AtriCure stock opened at $33.50 on Friday. AtriCure has a 1 year low of $22.57 and a 1 year high of $33.93. The firm’s 50-day moving average is $31.38 and its 200 day moving average is $28.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.11 and a quick ratio of 2.49. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -35.63 and a beta of 0.32.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, October 30th. The medical device company reported ($0.25) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.03. AtriCure had a negative return on equity of 13.59% and a negative net margin of 10.13%. The business had revenue of $56.60 million during the quarter, compared to analyst estimates of $55.12 million. During the same quarter in the previous year, the firm earned ($0.24) EPS. AtriCure’s revenue was up 13.4% on a year-over-year basis. On average, equities analysts expect that AtriCure will post -1.11 EPS for the current fiscal year.

About AtriCure

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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