AtriCure (NASDAQ:ATRC) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of AtriCure (NASDAQ:ATRC) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

ATRC has been the topic of several other research reports. Stifel Nicolaus dropped their price target on shares of AtriCure from $30.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday, July 31st. BTIG Research dropped their price target on shares of AtriCure from $58.00 to $53.00 and set a buy rating on the stock in a research note on Wednesday, July 31st. Piper Sandler dropped their price target on shares of AtriCure from $65.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC dropped their price target on shares of AtriCure from $40.00 to $34.00 and set a buy rating on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of AtriCure from $34.00 to $30.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $42.44.

AtriCure Stock Performance

Shares of ATRC stock opened at $26.24 on Wednesday. The company’s fifty day simple moving average is $23.47 and its 200-day simple moving average is $25.32. AtriCure has a 52 week low of $18.94 and a 52 week high of $44.92. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.25 billion, a PE ratio of -32.93 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. During the same quarter last year, the firm posted ($0.12) EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities research analysts anticipate that AtriCure will post -0.77 EPS for the current year.

Insiders Place Their Bets

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the completion of the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ATRC. Victory Capital Management Inc. boosted its holdings in shares of AtriCure by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after buying an additional 1,155 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of AtriCure by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 367,151 shares of the medical device company’s stock valued at $13,104,000 after buying an additional 4,165 shares during the period. TimesSquare Capital Management LLC boosted its holdings in shares of AtriCure by 7.9% in the 4th quarter. TimesSquare Capital Management LLC now owns 976,110 shares of the medical device company’s stock valued at $34,837,000 after buying an additional 71,275 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of AtriCure by 20.5% in the 4th quarter. Teacher Retirement System of Texas now owns 20,051 shares of the medical device company’s stock valued at $716,000 after buying an additional 3,417 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of AtriCure by 28.5% in the 4th quarter. BNP Paribas Financial Markets now owns 100,842 shares of the medical device company’s stock valued at $3,599,000 after buying an additional 22,388 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.

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.