Northland Securities downgraded shares of AtriCure (NASDAQ:ATRC) from an outperform rating to a market perform rating in a research note published on Tuesday morning, Briefing.com Automated Import reports. Northland Securities currently has $30.00 price objective on the medical device company’s stock.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of AtriCure from a buy rating to a hold rating in a research report on Tuesday, July 23rd. BidaskClub upgraded shares of AtriCure from a buy rating to a strong-buy rating in a research report on Friday, July 26th. Finally, ValuEngine lowered shares of AtriCure from a strong-buy rating to a buy rating in a research report on Wednesday, June 19th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $36.57.

Shares of ATRC opened at $27.32 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.72 and a quick ratio of 3.10. The firm has a 50 day simple moving average of $30.99 and a 200-day simple moving average of $29.97. AtriCure has a 1-year low of $26.11 and a 1-year high of $36.49. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -29.06 and a beta of 0.24.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.01. AtriCure had a negative net margin of 9.46% and a negative return on equity of 13.06%. The business had revenue of $58.90 million during the quarter, compared to analysts’ expectations of $57.76 million. During the same period last year, the company posted ($0.19) EPS. The company’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts expect that AtriCure will post -0.9 earnings per share for the current fiscal year.

In related news, SVP Justin J. Noznesky sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the senior vice president now owns 94,068 shares in the company, valued at $2,822,040. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael H. Carrel sold 1,454 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.00, for a total transaction of $47,982.00. Following the sale, the chief executive officer now owns 637,557 shares in the company, valued at approximately $21,039,381. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,158 shares of company stock worth $1,169,102. 8.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of AtriCure in the 1st quarter valued at $145,000. Emerald Advisers LLC boosted its holdings in shares of AtriCure by 2.3% in the 1st quarter. Emerald Advisers LLC now owns 477,830 shares of the medical device company’s stock valued at $12,801,000 after purchasing an additional 10,720 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of AtriCure by 59.0% in the 4th quarter. Deutsche Bank AG now owns 117,065 shares of the medical device company’s stock valued at $3,579,000 after purchasing an additional 43,461 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of AtriCure by 87.1% in the 4th quarter. Principal Financial Group Inc. now owns 12,635 shares of the medical device company’s stock valued at $387,000 after purchasing an additional 5,883 shares during the last quarter. Finally, Cortina Asset Management LLC boosted its holdings in shares of AtriCure by 11.2% in the 2nd quarter. Cortina Asset Management LLC now owns 320,660 shares of the medical device company’s stock valued at $9,568,000 after purchasing an additional 32,411 shares during the last quarter. Institutional investors own 89.99% of the company’s stock.

AtriCure Company Profile

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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