AtriCure, Inc. (NASDAQ:ATRC) Receives $48.71 Average Price Target from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $48.7143.

Several brokerages have recently issued reports on ATRC. Canaccord Genuity Group upped their target price on shares of AtriCure from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen cut shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Freedom Capital upgraded shares of AtriCure to a “strong-buy” rating in a research report on Wednesday, April 1st. Zacks Research downgraded shares of AtriCure from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th.

AtriCure Stock Down 0.6%

Shares of NASDAQ ATRC opened at $28.28 on Thursday. The firm’s 50-day moving average price is $28.01 and its 200-day moving average price is $32.55. The company has a current ratio of 4.29, a quick ratio of 3.18 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -282.80 and a beta of 1.26. AtriCure has a 12-month low of $25.36 and a 12-month high of $43.18.

Insider Buying and Selling

In related news, Director Karen Prange sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the transaction, the director directly owned 26,373 shares in the company, valued at approximately $755,586.45. This represents a 10.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Several hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in AtriCure by 6.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the medical device company’s stock valued at $218,000 after purchasing an additional 380 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after purchasing an additional 429 shares during the last quarter. Scotia Capital Inc. boosted its position in AtriCure by 1.2% in the 3rd quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company’s stock valued at $1,328,000 after buying an additional 457 shares during the period. First Bank & Trust boosted its position in AtriCure by 6.0% in the 4th quarter. First Bank & Trust now owns 8,805 shares of the medical device company’s stock valued at $348,000 after buying an additional 495 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its position in AtriCure by 197.1% in the 3rd 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 period. 99.11% of the stock is currently owned by institutional investors.

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.