Needham & Company LLC Issues Positive Forecast for AtriCure (NASDAQ:ATRC) Stock Price

AtriCure (NASDAQ:ATRC) had its target price lifted by Needham & Company LLC from $64.00 to $70.00 in a report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the medical device company’s stock.

Several other equities analysts also recently issued reports on ATRC. UBS Group downgraded AtriCure from a “buy” rating to a “sell” rating in a research report on Wednesday, October 21st. Freedom Capital lowered AtriCure from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Piper Sandler raised their target price on AtriCure from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Raymond James Financial set a $52.00 target price on AtriCure in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised AtriCure from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.80.

AtriCure Trading Up 8.5%

AtriCure stock opened at $65.53 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $56.36 and a two-hundred day moving average price of $38.52. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 147.34 and a beta of 1.23. AtriCure has a 52-week low of $25.36 and a 52-week high of $66.02.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, November 3rd. The medical device company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.23. AtriCure had a net margin of 2.52% and a return on equity of 4.08%. The firm had revenue of $154.45 million during the quarter, compared to analysts’ expectations of $151.05 million. Sell-side analysts expect that AtriCure will post 0.29 earnings per share for the current year.

Insider Activity at AtriCure

In other AtriCure news, insider Salvatore Privitera sold 7,763 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $52.50, for a total transaction of $407,557.50. Following the sale, the insider directly owned 150,921 shares in the company, valued at approximately $7,923,352.50. The trade was a 4.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Regina E. Groves sold 5,313 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $54.22, for a total transaction of $288,070.86. Following the completion of the sale, the director directly owned 34,546 shares of the company’s stock, valued at approximately $1,873,084.12. This represents a 13.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,622 shares of company stock worth $1,626,003 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATRC. Harbor Investment Advisory LLC bought a new stake in AtriCure during the second quarter worth approximately $40,000. Allworth Financial LP acquired a new stake in AtriCure in the second quarter worth approximately $43,000. Integrated Wealth Concepts LLC acquired a new stake in AtriCure in the second quarter worth approximately $46,000. Fifth Third Bancorp bought a new position in AtriCure during the 1st quarter valued at $51,000. Finally, Global Retirement Partners LLC bought a new position in AtriCure during the 2nd quarter valued at $52,000. 99.11% of the stock is currently owned by institutional investors.

AtriCure News Roundup

Here are the key news stories impacting AtriCure this week:

• Positive Sentiment: AtriCure reported third-quarter EPS of $0.17 and revenue of $154.45 million, topping analyst expectations of a loss per share and $151.05 million in revenue. The earnings beat helped prompt analysts to raise their forecasts. AtriCure beats Q3 earnings and revenue estimates
• Positive Sentiment: The company forecast 2026 revenue of $606 million to $610 million, versus a FactSet estimate of $606.2 million, and adjusted EBITDA of $91 million to $94 million. It also aims to complete BoxX-NoAF enrollment by year-end. AtriCure projects 2026 adjusted EBITDA and targets BoxX-NoAF enrollment completion
• Positive Sentiment: Several firms lifted their targets after the results: Canaccord raised its target to $67 and kept a Buy rating; Piper Sandler raised its target to $70 and reaffirmed Overweight; Needham also raised its target to $70 and maintained Buy. Analysts boost forecasts after better-than-expected Q3 results
• Neutral Sentiment: JPMorgan raised its target substantially, from $36 to $62, but retained a Neutral rating. Its new target is still below the current share price, signaling a more cautious view than the other target increases. JPMorgan analyst recommendations

AtriCure Company Profile

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.