AtriCure (NASDAQ:ATRC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AtriCure (NASDAQ:ATRC) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday.

A number of other equities research analysts also recently issued reports on the company. Freedom Capital upgraded AtriCure to a “strong-buy” rating in a research report on Wednesday, April 1st. Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, January 21st. Canaccord Genuity Group decreased their price objective on AtriCure from $64.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Oppenheimer downgraded AtriCure from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Finally, Citigroup restated an “outperform” rating on shares of AtriCure in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AtriCure has an average rating of “Moderate Buy” and an average price target of $48.43.

AtriCure Price Performance

NASDAQ:ATRC opened at $28.89 on Friday. The company has a current ratio of 3.96, a quick ratio of 2.99 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.44 billion, a P/E ratio of -120.38 and a beta of 1.43. AtriCure has a 12 month low of $27.31 and a 12 month high of $43.18. The business’s 50-day moving average is $31.73 and its 200 day moving average is $35.29.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The business had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.50 million. During the same period in the prior year, the business posted ($0.33) earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts forecast that AtriCure will post -0.6 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In other news, insider Vinayak Doraiswamy sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the transaction, the insider owned 96,875 shares of the company’s stock, valued at approximately $2,889,781.25. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd grew its stake in shares of AtriCure by 197.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after buying an additional 538 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of AtriCure during the second quarter valued at approximately $37,000. Farther Finance Advisors LLC grew its stake in shares of AtriCure by 1,818.6% during the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock valued at $40,000 after buying an additional 1,073 shares during the last quarter. First Horizon Corp bought a new position in shares of AtriCure during the third quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of AtriCure by 59.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after buying an additional 429 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.