AtriCure (NASDAQ:ATRC) Stock Rating Upgraded by Oppenheimer

AtriCure (NASDAQ:ATRC) was upgraded by stock analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $32.00 price objective on the medical device company’s stock. Oppenheimer’s price objective suggests a potential upside of 38.83% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of AtriCure in a report on Wednesday, April 10th. StockNews.com cut shares of AtriCure from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. UBS Group boosted their price objective on shares of AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus reduced their price target on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and an average target price of $52.63.

AtriCure Trading Down 0.5 %

Shares of NASDAQ ATRC opened at $23.05 on Tuesday. AtriCure has a 1-year low of $22.27 and a 1-year high of $59.61. The company has a market cap of $1.12 billion, a PE ratio of -34.92 and a beta of 1.38. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $30.25 and a two-hundred day moving average of $33.84.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.01. The company had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $103.68 million. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. AtriCure’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) EPS. As a group, equities analysts expect that AtriCure will post -0.71 earnings per share for the current fiscal year.

Insider Transactions at AtriCure

In other news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the sale, the insider now owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the sale, the insider now owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Karl S. Dahlquist sold 1,885 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the completion of the sale, the insider now directly owns 50,954 shares in the company, valued at approximately $1,638,680.64. The disclosure for this sale can be found here. Insiders have sold a total of 13,116 shares of company stock valued at $468,797 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of AtriCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in AtriCure by 71.6% during the first quarter. Assenagon Asset Management S.A. now owns 444,801 shares of the medical device company’s stock worth $13,531,000 after acquiring an additional 185,632 shares in the last quarter. Wesbanco Bank Inc. acquired a new position in shares of AtriCure in the first quarter valued at $472,000. Norden Group LLC acquired a new position in shares of AtriCure in the first quarter valued at $440,000. Wasatch Advisors LP increased its holdings in shares of AtriCure by 38.6% in the first quarter. Wasatch Advisors LP now owns 720,677 shares of the medical device company’s stock valued at $21,923,000 after purchasing an additional 200,799 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of AtriCure by 22.5% in the first quarter. Diversified Trust Co now owns 33,422 shares of the medical device company’s stock valued at $1,017,000 after purchasing an additional 6,139 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.