AtriCure (NASDAQ:ATRC) received a $39.00 price objective from equities research analysts at Needham & Company LLC in a research note issued on Monday, TipRanks reports. The firm presently has a “buy” rating on the medical device company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 39.73% from the company’s previous close.

Several other brokerages also recently weighed in on ATRC. Zacks Investment Research downgraded AtriCure from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. BidaskClub upgraded AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 26th. BTIG Research reiterated a “buy” rating and issued a $35.00 price target on shares of AtriCure in a research note on Tuesday. Northland Securities cut AtriCure from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a research note on Tuesday. Finally, ValuEngine cut AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 19th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $36.57.

Shares of NASDAQ ATRC traded down $1.15 on Monday, hitting $27.91. The company had a trading volume of 393,980 shares, compared to its average volume of 221,958. AtriCure has a 12-month low of $26.11 and a 12-month high of $36.49. The company has a 50 day moving average price of $31.12. 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 market cap of $1.21 billion, a price-to-earnings ratio of -29.69 and a beta of 0.24.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. AtriCure had a negative return on equity of 13.06% and a negative net margin of 9.46%. The company had revenue of $58.90 million during the quarter, compared to the consensus estimate of $57.76 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The company’s revenue was up 13.7% compared to the same quarter last year. Equities research analysts predict that AtriCure will post -0.78 EPS for the current year.

In related news, SVP Justin J. Noznesky sold 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the senior vice president now owns 94,068 shares in the company, valued at $2,822,040. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael H. Carrel sold 1,454 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.00, for a total value of $47,982.00. Following the completion of the transaction, 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 quarter, insiders sold 37,158 shares of company stock worth $1,169,102. Insiders own 8.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zebra Capital Management LLC bought a new position in AtriCure in the 2nd quarter worth approximately $322,000. Assetmark Inc. grew its holdings in AtriCure by 109.7% in the 2nd quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock worth $29,000 after buying an additional 510 shares in the last quarter. Invesco Ltd. grew its holdings in AtriCure by 4,185.4% in the 2nd quarter. Invesco Ltd. now owns 382,256 shares of the medical device company’s stock worth $11,406,000 after buying an additional 373,336 shares in the last quarter. Vanguard Group Inc. grew its holdings in AtriCure by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,875,198 shares of the medical device company’s stock worth $55,955,000 after buying an additional 46,010 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in AtriCure in the 2nd quarter worth approximately $342,000. Hedge funds and other institutional investors own 89.99% of the company’s stock.

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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