AtriCure, Inc. (NASDAQ:ATRC) Receives Consensus Rating of “Moderate Buy” from Analysts

AtriCure, Inc. (NASDAQ:ATRC) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $48.4286.

A number of research firms have commented on ATRC. Zacks Research cut shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Citizens Jmp reduced their price objective on shares of AtriCure from $60.00 to $52.00 and set a “market outperform” rating for the company in a research report on Wednesday, February 18th. Canaccord Genuity Group decreased their price target on shares of AtriCure from $64.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Wall Street Zen cut shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group dropped their price objective on shares of AtriCure from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th.

Insider Activity at AtriCure

In other news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the completion of the transaction, the insider directly owned 96,875 shares in the company, valued at approximately $2,889,781.25. This represents a 4.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of AtriCure by 1.0% in the first quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock valued at $2,700,000 after buying an additional 837 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AtriCure by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock valued at $908,000 after buying an additional 1,230 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in AtriCure by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock valued at $27,830,000 after buying an additional 8,956 shares during the last quarter. Jane Street Group LLC raised its holdings in AtriCure by 658.3% in the 1st quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock valued at $3,254,000 after buying an additional 87,553 shares during the last quarter. Finally, Strs Ohio bought a new position in AtriCure in the 1st quarter valued at approximately $158,000. Institutional investors own 99.11% of the company’s stock.

AtriCure Price Performance

NASDAQ:ATRC opened at $29.39 on Wednesday. AtriCure has a 1-year low of $26.62 and a 1-year high of $43.18. The company has a current ratio of 3.96, a quick ratio of 2.99 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $29.38 and a 200 day simple moving average of $34.41. The stock has a market capitalization of $1.49 billion, a PE ratio of -122.46 and a beta of 1.28.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates 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 business posted ($0.33) earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts expect that AtriCure will post 0.1 EPS for the current fiscal 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.