Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) PT at $49.78

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $49.78.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Canaccord Genuity Group lowered their price target on AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research report on Tuesday, April 23rd. UBS Group upped their target price on AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Needham & Company LLC dropped their target price on AtriCure from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd.

AtriCure Trading Down 5.4 %

ATRC stock opened at $20.69 on Friday. The company has a quick ratio of 2.83, a current ratio of 4.00 and a debt-to-equity ratio of 0.16. The company has a market cap of $984.60 million, a price-to-earnings ratio of -25.86 and a beta of 1.41. The business has a fifty day simple moving average of $28.08 and a 200-day simple moving average of $32.82. AtriCure has a 52 week low of $20.19 and a 52 week high of $59.61.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $108.90 million for the quarter, compared to analyst estimates of $106.86 million. AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.23) earnings per share. On average, equities research analysts expect that AtriCure will post -0.75 EPS for the current year.

Insider Buying and Selling at AtriCure

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total value of $55,080.00. Following the transaction, the insider now directly owns 74,284 shares of the company’s stock, valued at approximately $2,727,708.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Karl S. Dahlquist sold 1,885 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.16, for a total transaction of $60,621.60. Following the transaction, the insider now owns 50,954 shares of the company’s stock, valued at $1,638,680.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the sale, the insider now directly owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The disclosure for this sale can be found here. Insiders sold a total of 14,616 shares of company stock worth $504,932 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ATRC. SG Americas Securities LLC bought a new position in AtriCure during the third quarter worth $603,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AtriCure by 14.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,854 shares of the medical device company’s stock worth $432,000 after purchasing an additional 1,238 shares during the period. Strs Ohio lifted its position in shares of AtriCure by 144.9% in the 3rd quarter. Strs Ohio now owns 48,500 shares of the medical device company’s stock worth $2,124,000 after buying an additional 28,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of AtriCure by 2.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,753 shares of the medical device company’s stock valued at $909,000 after buying an additional 516 shares during the period. Finally, Assetmark Inc. grew its position in shares of AtriCure by 18.1% during the 3rd quarter. Assetmark Inc. now owns 10,046 shares of the medical device company’s stock valued at $440,000 after buying an additional 1,537 shares during the last quarter. 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.