AtriCure, Inc. (NASDAQ:ATRC) Receives $55.57 Average PT from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned an average rating of “Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $55.57.

A number of equities analysts recently weighed in on ATRC shares. Needham & Company LLC raised their price objective on AtriCure from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, February 16th. UBS Group lifted their price objective on AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Stifel Nicolaus dropped their price target on AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. JMP Securities reiterated a “market outperform” rating and set a $60.00 price objective on shares of AtriCure in a research note on Wednesday, November 29th. Finally, StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research note on Tuesday.

AtriCure Stock Down 1.3 %

Shares of NASDAQ:ATRC opened at $31.51 on Friday. 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 has a market capitalization of $1.50 billion, a PE ratio of -47.74 and a beta of 1.39. AtriCure has a 1 year low of $29.67 and a 1 year high of $59.61. The business has a fifty day moving average price of $34.01 and a two-hundred day moving average price of $36.82.

AtriCure (NASDAQ:ATRC) last issued its earnings results 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. AtriCure had a negative return on equity of 7.55% and a negative net margin of 7.62%. The business had revenue of $106.50 million during the quarter, compared to the consensus estimate of $103.68 million. During the same quarter last year, the company earned ($0.09) EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. Analysts forecast that AtriCure will post -0.71 earnings per share for the current year.

Insider Buying and Selling at AtriCure

In other news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total value of $307,510.16. Following the completion of the transaction, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Karl S. Dahlquist sold 8,231 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the transaction, the insider now directly owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 $2,727,708.48. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. RiverPark Advisors LLC acquired a new stake in shares of AtriCure in the 3rd quarter worth $27,000. Arcadia Investment Management Corp MI acquired a new position in AtriCure in the 3rd quarter worth about $28,000. Virtus Fund Advisers LLC acquired a new position in AtriCure in the 4th quarter worth about $27,000. State of Wyoming raised its holdings in AtriCure by 34.6% in the 2nd quarter. State of Wyoming now owns 1,030 shares of the medical device company’s stock worth $51,000 after purchasing an additional 265 shares during the period. Finally, Almanack Investment Partners LLC. acquired a new position in AtriCure in the 3rd quarter worth about $43,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

About AtriCure

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.