AtriCure (NASDAQ:ATRC) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of AtriCure (NASDAQ:ATRCFree Report) in a report released on Monday morning, Benzinga reports. Needham & Company LLC currently has a $40.00 price target on the medical device company’s stock.

Several other analysts have also recently weighed in on the stock. Oppenheimer upgraded shares of AtriCure from a market perform rating to an outperform rating and set a $32.00 price objective for the company in a research note on Tuesday, April 23rd. StockNews.com cut shares of AtriCure from a hold rating to a sell rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their target price on shares of AtriCure from $42.00 to $34.00 and set an overweight rating for the company in a research report on Thursday, May 2nd. Finally, Canaccord Genuity Group dropped their target price on shares of AtriCure from $57.00 to $49.00 and set a buy rating for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $49.78.

View Our Latest Research Report on ATRC

AtriCure Stock Performance

Shares of ATRC opened at $22.19 on Monday. The firm has a 50-day moving average of $22.21 and a 200-day moving average of $28.25. AtriCure has a one year low of $18.94 and a one year high of $59.61. The company has a market cap of $1.06 billion, a PE ratio of -27.74 and a beta of 1.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.00 and a quick ratio of 2.83.

AtriCure (NASDAQ:ATRCGet Free Report) last posted its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The company had revenue of $108.90 million for the quarter, compared to analyst estimates of $106.86 million. AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.23) EPS. As a group, equities analysts forecast that AtriCure will post -0.75 earnings per share for the current year.

Insider Activity at AtriCure

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $24.09, for a total transaction of $36,135.00. Following the sale, the insider now directly owns 71,284 shares of the company’s stock, valued at approximately $1,717,231.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Salvatore Privitera purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $22.25 per share, for a total transaction of $111,250.00. Following the transaction, the insider now owns 103,290 shares of the company’s stock, valued at $2,298,202.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total transaction of $36,135.00. Following the completion of the transaction, the insider now owns 71,284 shares in the company, valued at approximately $1,717,231.56. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATRC. Tudor Investment Corp Et Al acquired a new position in shares of AtriCure in the 3rd quarter worth approximately $3,838,000. Diversified Trust Co lifted its position in AtriCure by 44.6% in the 3rd quarter. Diversified Trust Co now owns 18,580 shares of the medical device company’s stock valued at $814,000 after acquiring an additional 5,731 shares in the last quarter. Decheng Capital Management III Cayman LLC acquired a new position in AtriCure during the 3rd quarter valued at about $2,026,000. Wesbanco Bank Inc. increased its holdings in AtriCure by 137.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 15,525 shares of the medical device company’s stock worth $680,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of AtriCure by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,689,883 shares of the medical device company’s stock worth $205,417,000 after purchasing an additional 43,431 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Company Profile

(Get Free Report)

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.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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