Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) Target Price at $52.44

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $52.4444.

A number of brokerages have weighed in on ATRC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Canaccord Genuity Group upped their price objective on AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Zacks Research upgraded AtriCure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Citigroup restated a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th.

Insiders Place Their Bets

In other AtriCure news, insider Justin J. Noznesky sold 5,166 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total transaction of $192,640.14. Following the transaction, the insider directly owned 78,798 shares in the company, valued at approximately $2,938,377.42. This represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sven Wehrwein sold 4,967 shares of AtriCure stock in a transaction that occurred on Tuesday, November 25th. The stock was 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 of the company’s stock, valued at approximately $1,306,212. This represents a 12.63% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,166 shares of company stock valued at $676,378. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd boosted its position in shares of AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after purchasing an additional 538 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in AtriCure during the second quarter worth about $37,000. Farther Finance Advisors LLC boosted its holdings in AtriCure by 1,818.6% during the third quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock worth $40,000 after buying an additional 1,073 shares during the last quarter. First Horizon Corp acquired a new position in shares of AtriCure during the 3rd quarter worth about $42,000. Finally, CWM LLC increased its stake in shares of AtriCure by 36.6% in the 3rd quarter. CWM LLC now owns 2,587 shares of the medical device company’s stock valued at $91,000 after acquiring an additional 693 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Trading Up 2.2%

Shares of ATRC opened at $39.27 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.85 and a current ratio of 3.87. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -64.38 and a beta of 1.40. The stock has a fifty day moving average price of $38.63 and a two-hundred day moving average price of $36.12. AtriCure has a 52-week low of $28.29 and a 52-week high of $43.18.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Wednesday, October 29th. The medical device company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.10. AtriCure had a negative return on equity of 2.54% and a negative net margin of 5.55%.The company had revenue of $134.27 million for the quarter, compared to analysts’ expectations of $131.25 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. Analysts predict that AtriCure will post -0.6 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.