AtriCure’s (ATRC) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of AtriCure (NASDAQ:ATRC) in a report issued on Wednesday morning,Benzinga reports. BTIG Research currently has a $54.00 target price on the medical device company’s stock.

ATRC has been the topic of several other research reports. JPMorgan Chase & Co. cut shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Wednesday, February 11th. Canaccord Genuity Group raised their target price on AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, January 21st. Zacks Research upgraded AtriCure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of AtriCure in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.43.

AtriCure Stock Up 0.6%

Shares of AtriCure stock opened at $32.58 on Wednesday. AtriCure has a twelve month low of $28.29 and a twelve month high of $43.18. The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $38.22 and its 200 day moving average is $36.71. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -135.75 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. The business had revenue of $140.50 million during the quarter, compared to analyst estimates of $140.50 million. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.17%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.33) EPS. Research analysts anticipate that AtriCure will post -0.6 EPS for the current year.

Insider Activity

In other AtriCure news, insider Justin J. Noznesky sold 5,166 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total transaction of $192,640.14. Following the completion of the sale, the insider directly owned 78,798 shares of the company’s stock, valued at $2,938,377.42. This trade represents a 6.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sven Wehrwein sold 4,967 shares of AtriCure stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $38.00, for a total transaction of $188,746.00. Following the sale, the director owned 34,374 shares in the company, valued at approximately $1,306,212. The trade was a 12.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,166 shares of company stock valued at $569,218 in the last quarter. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AtriCure

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd increased its holdings 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 acquiring an additional 538 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of AtriCure in the second quarter worth about $37,000. Farther Finance Advisors LLC increased its holdings in shares of AtriCure by 1,818.6% in the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after purchasing an additional 1,073 shares during the last quarter. First Horizon Corp purchased a new stake in shares of AtriCure in the third quarter worth about $42,000. Finally, Smartleaf Asset Management LLC boosted its stake in AtriCure by 59.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after buying an additional 429 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other 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.