AtriCure (NASDAQ:ATRC) Stock Rating Upgraded by Zacks Research

AtriCure (NASDAQ:ATRC) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Citigroup reiterated a “market outperform” rating on shares of AtriCure in a report on Thursday, October 30th. Canaccord Genuity Group raised their price objective on shares of AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.44.

AtriCure Price Performance

ATRC stock opened at $41.77 on Tuesday. The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -68.47 and a beta of 1.40. The company’s fifty day simple moving average is $37.36 and its 200 day simple moving average is $35.62. AtriCure has a 12-month low of $28.29 and a 12-month high of $43.11.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.10. The firm had revenue of $134.27 million during the quarter, compared to the consensus estimate of $131.25 million. AtriCure had a negative return on equity of 2.54% and a negative net margin of 5.55%.The business’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business posted ($0.17) EPS. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. On average, analysts expect that AtriCure will post -0.6 earnings per share for the current year.

Insider Buying and Selling

In other AtriCure news, Director Maggie Yuen sold 3,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $35.72, for a total value of $107,160.00. Following the transaction, the director directly owned 11,371 shares of the company’s stock, valued at approximately $406,172.12. This trade represents a 20.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin J. Noznesky sold 5,166 shares of AtriCure 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 owned 78,798 shares of the company’s stock, valued at $2,938,377.42. This represents a 6.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,166 shares of company stock worth $676,378 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Several large investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd increased its holdings in AtriCure by 197.1% during 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 in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of AtriCure during the second quarter valued at approximately $37,000. Farther Finance Advisors LLC grew 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 in the last quarter. First Horizon Corp bought a new stake in AtriCure during the third quarter worth $42,000. Finally, CWM LLC raised its position in 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 buying an additional 693 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

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.