BidaskClub downgraded shares of AtriCure (NASDAQ:ATRC) from a strong-buy rating to a buy rating in a report published on Thursday, BidAskClub reports.

ATRC has been the topic of a number of other research reports. Northland Securities lowered shares of AtriCure from an outperform rating to a market perform rating and set a $30.00 price target on the stock. in a report on Tuesday, August 13th. BTIG Research reiterated a buy rating and set a $35.00 price target on shares of AtriCure in a report on Tuesday, August 13th. Needham & Company LLC set a $39.00 price target on shares of AtriCure and gave the stock a buy rating in a report on Monday, August 12th. Piper Jaffray Companies set a $40.00 price target on shares of AtriCure and gave the stock a buy rating in a report on Monday, August 12th. Finally, Zacks Investment Research lowered shares of AtriCure from a buy rating to a hold rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. AtriCure has an average rating of Buy and an average price target of $36.57.

Shares of NASDAQ:ATRC opened at $27.32 on Thursday. The firm has a market cap of $1.04 billion, a PE ratio of -29.06 and a beta of 0.24. The firm’s fifty day moving average is $30.99 and its 200-day moving average is $29.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.10 and a current ratio of 3.72. AtriCure has a 52 week low of $26.11 and a 52 week high of $36.49.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $58.90 million for the quarter, compared to analyst estimates of $57.76 million. AtriCure had a negative net margin of 9.46% and a negative return on equity of 13.06%. AtriCure’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.19) earnings per share. Sell-side analysts forecast that AtriCure will post -0.9 EPS for the current year.

In related news, CEO Michael H. Carrel sold 1,454 shares of AtriCure stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.00, for a total transaction of $47,982.00. Following the completion of the transaction, the chief executive officer now owns 637,557 shares of the company’s stock, valued at $21,039,381. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Justin J. Noznesky sold 10,000 shares of AtriCure stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the senior vice president now directly owns 94,068 shares of the company’s stock, valued at approximately $2,822,040. The disclosure for this sale can be found here. Insiders have sold 37,158 shares of company stock valued at $1,169,102 in the last three months. 8.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. raised its stake in AtriCure by 109.7% during the second quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock worth $29,000 after buying an additional 510 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in AtriCure by 4.7% during the second quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the medical device company’s stock worth $534,000 after buying an additional 800 shares during the last quarter. Quantum Capital Management increased its stake in AtriCure by 0.7% in the first quarter. Quantum Capital Management now owns 127,035 shares of the medical device company’s stock valued at $3,403,000 after purchasing an additional 845 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in AtriCure by 114.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,597 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 853 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in AtriCure by 6.4% in the second quarter. Parametric Portfolio Associates LLC now owns 16,738 shares of the medical device company’s stock valued at $499,000 after purchasing an additional 1,006 shares in the last quarter. 89.99% of the stock is owned by institutional investors and hedge funds.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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