AtriCure, Inc. (ATRC) Stock Rating Reaffirmed by Canaccord Genuity
AtriCure, Inc. (NASDAQ:ATRC)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a note issued to investors on Monday. They currently have a $28.00 target price on the medical device company’s stock. Canaccord Genuity’s price objective suggests a potential upside of 24.39% from the company’s current price.
ATRC has been the subject of a number of other research reports. BidaskClub cut AtriCure from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective (up previously from $25.00) on shares of AtriCure in a research note on Friday, July 28th. Zacks Investment Research upgraded AtriCure from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Leerink Swann reiterated an “outperform” rating and set a $26.00 price objective on shares of AtriCure in a research note on Friday, June 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $25.00 price objective on shares of AtriCure in a research note on Sunday, July 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. AtriCure has an average rating of “Buy” and an average price target of $25.83.
Shares of AtriCure (NASDAQ:ATRC) opened at 22.51 on Monday. The stock’s market capitalization is $772.86 million. The company has a 50-day moving average price of $21.81 and a 200-day moving average price of $21.88. AtriCure has a 52-week low of $14.78 and a 52-week high of $25.18.
AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.05. The business had revenue of $45.23 million during the quarter, compared to analysts’ expectations of $44.15 million. AtriCure had a negative return on equity of 19.56% and a negative net margin of 19.56%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.26) earnings per share. On average, equities analysts anticipate that AtriCure will post ($0.95) earnings per share for the current year.
In other news, Director Elizabeth D. Krell sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $22.40, for a total value of $224,000.00. Following the completion of the transaction, the director now owns 29,967 shares in the company, valued at $671,260.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. State Street Corp raised its stake in shares of AtriCure by 4.0% in the second quarter. State Street Corp now owns 617,405 shares of the medical device company’s stock worth $14,971,000 after purchasing an additional 23,790 shares during the last quarter. First Light Asset Management LLC raised its stake in shares of AtriCure by 0.3% in the second quarter. First Light Asset Management LLC now owns 958,858 shares of the medical device company’s stock worth $23,252,000 after purchasing an additional 2,400 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of AtriCure in the second quarter worth $253,000. Voya Investment Management LLC raised its stake in shares of AtriCure by 7.9% in the second quarter. Voya Investment Management LLC now owns 17,158 shares of the medical device company’s stock worth $416,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of AtriCure by 76.0% in the second quarter. Parametric Portfolio Associates LLC now owns 60,949 shares of the medical device company’s stock worth $1,478,000 after purchasing an additional 26,327 shares during the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.
AtriCure Company Profile
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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