Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) Target Price at $48.43

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $48.4286.

A number of equities research analysts have recently commented on ATRC shares. JPMorgan Chase & Co. downgraded AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Wednesday, February 11th. Oppenheimer downgraded AtriCure from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Zacks Research lowered AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. BTIG Research restated a “buy” rating and issued a $54.00 price target on shares of AtriCure in a report on Wednesday, February 18th. Finally, Citigroup reaffirmed an “outperform” rating on shares of AtriCure in a research note on Wednesday, February 18th.

Insider Transactions at AtriCure

In related news, insider Vinayak Doraiswamy sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its stake in shares of AtriCure by 43.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,983 shares of the medical device company’s stock valued at $158,000 after buying an additional 1,205 shares during the period. Invesco Ltd. raised its position in shares of AtriCure by 7.9% in the 4th quarter. Invesco Ltd. now owns 74,435 shares of the medical device company’s stock worth $2,945,000 after buying an additional 5,462 shares during the period. Mackenzie Financial Corp raised its position in shares of AtriCure by 5.3% in the 4th quarter. Mackenzie Financial Corp now owns 13,597 shares of the medical device company’s stock worth $545,000 after buying an additional 683 shares during the period. XTX Topco Ltd boosted its holdings in AtriCure by 88.0% in the fourth quarter. XTX Topco Ltd now owns 11,069 shares of the medical device company’s stock valued at $438,000 after acquiring an additional 5,182 shares during the last quarter. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in AtriCure in the fourth quarter valued at $3,415,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Stock Up 2.0%

Shares of NASDAQ ATRC opened at $30.44 on Tuesday. AtriCure has a 1 year low of $28.29 and a 1 year high of $43.18. The firm’s 50 day moving average price is $35.05 and its 200 day moving average price is $36.05. The firm has a market cap of $1.52 billion, a P/E ratio of -126.83 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The firm had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $140.50 million. During the same period in the previous year, the company earned ($0.33) EPS. AtriCure’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, sell-side analysts anticipate that AtriCure will post -0.6 earnings per share for the current year.

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.