Shares of AtriCure Inc. (NASDAQ:ATRC) have received a consensus rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $36.80.
ATRC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of AtriCure in a report on Friday, September 6th. Needham & Company LLC set a $39.00 target price on AtriCure and gave the company a “buy” rating in a report on Monday, August 12th. Zacks Investment Research downgraded AtriCure from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. BidaskClub downgraded AtriCure from a “hold” rating to a “sell” rating in a report on Thursday. Finally, BTIG Research reissued a “buy” rating and issued a $35.00 target price on shares of AtriCure in a report on Tuesday, August 13th.
NASDAQ:ATRC traded up $0.47 during midday trading on Friday, reaching $25.51. The stock had a trading volume of 3,376 shares, compared to its average volume of 302,248. AtriCure has a 12-month low of $22.57 and a 12-month high of $36.49. The company has a quick ratio of 3.10, a current ratio of 3.72 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $28.30 and a two-hundred day simple moving average of $29.21. The stock has a market cap of $971.11 million, a P/E ratio of -27.14 and a beta of 0.33.
AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. AtriCure had a negative return on equity of 13.06% and a negative net margin of 9.46%. The company had revenue of $58.90 million during the quarter, compared to the consensus estimate of $57.76 million. During the same quarter last year, the company earned ($0.19) earnings per share. AtriCure’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AtriCure will post -0.94 earnings per share for the current fiscal year.
In other news, CEO Michael H. Carrel sold 25,000 shares of AtriCure stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $32.00, for a total transaction of $800,000.00. Following the completion of the transaction, the chief executive officer now owns 661,103 shares of the company’s stock, valued at approximately $21,155,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael H. Carrel sold 1,454 shares of AtriCure stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.00, for a total value of $47,982.00. Following the transaction, the chief executive officer now directly owns 637,557 shares of the company’s stock, valued at approximately $21,039,381. The disclosure for this sale can be found here. In the last three months, insiders sold 36,454 shares of company stock valued at $1,147,982. 8.00% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of AtriCure by 2.8% during the 2nd quarter. BlackRock Inc. now owns 3,037,373 shares of the medical device company’s stock worth $90,637,000 after buying an additional 82,750 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of AtriCure by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,875,198 shares of the medical device company’s stock worth $55,955,000 after buying an additional 46,010 shares during the last quarter. First Light Asset Management LLC raised its stake in shares of AtriCure by 21.6% during 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 buying an additional 197,433 shares during the last quarter. GW&K Investment Management LLC raised its stake in shares of AtriCure by 73.2% during the 2nd quarter. GW&K Investment Management LLC now owns 843,747 shares of the medical device company’s stock worth $25,177,000 after buying an additional 356,652 shares during the last quarter. Finally, Tamarack Advisers LP raised its stake in shares of AtriCure by 58.8% during the 2nd quarter. Tamarack Advisers LP now owns 675,000 shares of the medical device company’s stock worth $21,195,000 after buying an additional 250,000 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.
AtriCure Company Profile
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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