AtriCure (NASDAQ:ATRC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of AtriCure (NASDAQ:ATRC) from a sell rating to a hold rating in a report issued on Saturday morning.

A number of other brokerages have also weighed in on ATRC. Piper Sandler reduced their price target on AtriCure from $65.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus reduced their target price on AtriCure from $30.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on AtriCure from $34.00 to $30.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Needham & Company LLC cut their price objective on shares of AtriCure from $40.00 to $34.00 and set a buy rating on the stock in a report on Wednesday, July 31st. Finally, BTIG Research lowered their target price on shares of AtriCure from $58.00 to $53.00 and set a buy rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $42.44.

AtriCure Trading Up 1.8 %

Shares of ATRC opened at $28.21 on Friday. AtriCure has a 1-year low of $18.94 and a 1-year high of $44.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93. The firm has a 50 day simple moving average of $23.99 and a 200-day simple moving average of $24.99. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -35.26 and a beta of 1.43.

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, hitting analysts’ consensus estimates of ($0.17). The company had revenue of $116.27 million during the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) earnings per share. Equities analysts forecast that AtriCure will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now directly owns 8,970 shares in the company, valued at approximately $215,907.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of institutional investors have recently modified their holdings of ATRC. Comerica Bank increased its holdings in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after buying an additional 1,043 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of AtriCure during the 4th quarter valued at approximately $103,000. Virtu Financial LLC acquired a new stake in shares of AtriCure during the 4th quarter valued at approximately $213,000. Victory Capital Management Inc. lifted its stake in AtriCure by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its holdings in AtriCure by 32.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock worth $222,000 after purchasing an additional 2,368 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.