AtriCure, Inc. (NASDAQ:ATRC) Receives $42.44 Average Target Price from Analysts

AtriCure, Inc. (NASDAQ:ATRC) has been given an average rating of “Buy” by the nine research firms that are covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.44.

ATRC has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC dropped their price objective on AtriCure from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. BTIG Research decreased their target price on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus lowered their price target on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th.

AtriCure Stock Performance

NASDAQ:ATRC opened at $27.63 on Tuesday. 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 stock has a market cap of $1.31 billion, a P/E ratio of -34.54 and a beta of 1.44. The stock has a 50 day simple moving average of $25.38 and a 200 day simple moving average of $24.28. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.00.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). The company had revenue of $116.27 million during the quarter, compared to the consensus estimate of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) earnings per share. Research analysts anticipate that AtriCure will post -0.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB boosted its stake in AtriCure by 20.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 17,700 shares of the medical device company’s stock valued at $496,000 after purchasing an additional 3,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of AtriCure during the third quarter valued at approximately $488,000. Truist Financial Corp grew its holdings in AtriCure by 13.8% during the second quarter. Truist Financial Corp now owns 15,184 shares of the medical device company’s stock worth $346,000 after buying an additional 1,842 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in AtriCure by 6.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,919 shares of the medical device company’s stock valued at $567,000 after buying an additional 1,429 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in AtriCure by 132.5% during the 2nd quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock valued at $21,694,000 after acquiring an additional 543,023 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.