AtriCure (NASDAQ:ATRC) Raised to Outperform at Oppenheimer

Oppenheimer upgraded shares of AtriCure (NASDAQ:ATRC) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have $32.00 target price on the medical device company’s stock.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus decreased their price objective on shares of AtriCure from $50.00 to $42.00 and set a buy rating for the company in a report on Friday, February 16th. StockNews.com cut shares of AtriCure from a hold rating to a sell rating in a report on Wednesday, March 27th. Needham & Company LLC reissued a buy rating and set a $46.00 price objective on shares of AtriCure in a report on Wednesday, April 10th. Finally, UBS Group boosted their price objective on shares of AtriCure from $57.00 to $58.00 and gave the company a buy rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $52.63.

AtriCure Trading Up 2.5 %

NASDAQ:ATRC opened at $23.17 on Tuesday. AtriCure has a one year low of $22.07 and a one year high of $59.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.57 and a quick ratio of 2.66. The company’s 50-day simple moving average is $29.83 and its 200 day simple moving average is $33.65. The firm has a market capitalization of $1.12 billion, a P/E ratio of -35.11 and a beta of 1.38.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.01. The business had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. AtriCure’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. As a group, analysts forecast that AtriCure will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the sale, the insider now owns 72,784 shares of the company’s stock, valued at $2,211,905.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Karl S. Dahlquist sold 8,231 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the sale, the insider now directly owns 72,784 shares in the company, valued at approximately $2,211,905.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,116 shares of company stock worth $468,797. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC grew its holdings in AtriCure by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 222,843 shares of the medical device company’s stock worth $6,779,000 after acquiring an additional 1,427 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AtriCure by 71.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 444,801 shares of the medical device company’s stock valued at $13,531,000 after buying an additional 185,632 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in shares of AtriCure in the 1st quarter valued at about $472,000. Norden Group LLC bought a new stake in shares of AtriCure in the 1st quarter valued at about $440,000. Finally, Wasatch Advisors LP boosted its holdings in shares of AtriCure by 38.6% in the 1st quarter. Wasatch Advisors LP now owns 720,677 shares of the medical device company’s stock valued at $21,923,000 after buying an additional 200,799 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.