AtriCure (NASDAQ:ATRC) Upgraded to “Strong-Buy” at Freedom Capital

AtriCure (NASDAQ:ATRC) was upgraded by investment analysts at Freedom Capital to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group reduced their price target on shares of AtriCure from $64.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. BTIG Research reaffirmed a “buy” rating and set a $54.00 price objective on shares of AtriCure in a report on Wednesday, February 18th. Citizens Jmp cut their target price on AtriCure from $60.00 to $52.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, January 21st. Finally, Zacks Research downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $48.43.

AtriCure Stock Performance

Shares of AtriCure stock opened at $29.07 on Wednesday. The firm has a market capitalization of $1.45 billion, a P/E ratio of -121.13 and a beta of 1.43. AtriCure has a 52 week low of $27.31 and a 52 week high of $43.18. The company has a quick ratio of 2.99, a current ratio of 3.96 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $32.30 and its two-hundred day moving average is $35.43.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.10. AtriCure had a negative net margin of 2.14% and a negative return on equity of 1.15%. The business had revenue of $140.50 million during the quarter, compared to the consensus estimate of $140.50 million. During the same quarter in the previous year, the firm earned ($0.33) EPS. The company’s revenue was up 13.1% compared to the same quarter last year. Research analysts forecast that AtriCure will post -0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other AtriCure news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the sale, the insider directly owned 96,875 shares of the company’s stock, valued at approximately $2,889,781.25. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd grew its position in AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after buying an additional 538 shares during the last quarter. Farther Finance Advisors LLC raised its position in AtriCure by 1,818.6% during the 3rd 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 during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of AtriCure in the 2nd quarter worth $37,000. Smartleaf Asset Management LLC boosted its holdings in shares of AtriCure by 59.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after acquiring an additional 429 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in shares of AtriCure in the third quarter valued at about $42,000. 99.11% of the stock is owned by institutional investors and hedge funds.

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.