AtriCure, Inc. (NASDAQ:ATRC) Receives $49.78 Consensus PT from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $49.78.

ATRC has been the subject of a number of recent analyst reports. StockNews.com cut AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. cut their price objective on AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Canaccord Genuity Group lowered their price target on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of AtriCure in a research note on Monday, July 8th. Finally, Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Tuesday, April 23rd.

AtriCure Stock Down 1.4 %

Shares of ATRC stock opened at $23.82 on Thursday. The stock has a 50 day moving average of $22.59 and a 200 day moving average of $27.54. The company has a current ratio of 4.00, a quick ratio of 2.83 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.13 billion, a P/E ratio of -29.77 and a beta of 1.44. AtriCure has a twelve month low of $18.94 and a twelve month high of $59.61.

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

Insiders Place Their Bets

In related news, insider Salvatore Privitera acquired 5,000 shares of the stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $22.25 per share, with a total value of $111,250.00. Following the completion of the purchase, the insider now owns 103,290 shares of the company’s stock, valued at approximately $2,298,202.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Salvatore Privitera acquired 5,000 shares of the stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $22.25 per share, with a total value of $111,250.00. Following the completion of the purchase, the insider now owns 103,290 shares of the company’s stock, valued at approximately $2,298,202.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $24.09, for a total value of $36,135.00. Following the transaction, the insider now directly 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 corporate insiders.

Hedge Funds Weigh In On AtriCure

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of AtriCure by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after purchasing an additional 76,146 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of AtriCure by 27.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock valued at $81,556,000 after purchasing an additional 575,605 shares during the last quarter. First Light Asset Management LLC lifted its stake in shares of AtriCure by 2.5% in the 1st quarter. First Light Asset Management LLC now owns 1,382,860 shares of the medical device company’s stock valued at $42,067,000 after purchasing an additional 33,417 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of AtriCure by 7.8% in the 4th quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock valued at $47,448,000 after buying an additional 95,824 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AtriCure by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,001,161 shares of the medical device company’s stock valued at $35,734,000 after buying an additional 9,176 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Company Profile

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.