AtriCure (NASDAQ:ATRC) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of AtriCure (NASDAQ:ATRC) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

Several other analysts also recently weighed in on the company. Stifel Nicolaus decreased their target price on AtriCure from $30.00 to $26.00 and set a buy rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of AtriCure from $34.00 to $30.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Piper Sandler cut their target price on shares of AtriCure from $65.00 to $40.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. BTIG Research decreased their price target on shares of AtriCure from $58.00 to $53.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Finally, Needham & Company LLC cut their price objective on shares of AtriCure from $40.00 to $34.00 and set a buy rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $42.44.

AtriCure Trading Up 1.0 %

NASDAQ:ATRC opened at $26.21 on Wednesday. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $23.35 and its 200-day moving average is $25.30. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -32.91 and a beta of 1.44. AtriCure has a 12 month low of $18.94 and a 12 month high of $45.80.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). The firm had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) EPS. Equities analysts anticipate that AtriCure will post -0.77 EPS for the current year.

Insider Activity

In related news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the transaction, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Trading of AtriCure

Several institutional investors have recently bought and sold shares of the stock. Truist Financial Corp lifted its holdings in shares of AtriCure by 13.8% during the second quarter. Truist Financial Corp now owns 15,184 shares of the medical device company’s stock valued at $346,000 after acquiring an additional 1,842 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in AtriCure by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,919 shares of the medical device company’s stock valued at $567,000 after purchasing an additional 1,429 shares during the last quarter. Millennium Management LLC boosted its position in AtriCure by 132.5% in the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock valued at $21,694,000 after buying an additional 543,023 shares in the last quarter. AQR Capital Management LLC grew its stake in AtriCure by 38.2% during the second quarter. AQR Capital Management LLC now owns 58,738 shares of the medical device company’s stock worth $1,337,000 after buying an additional 16,251 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of AtriCure by 99.8% during the second quarter. Squarepoint Ops LLC now owns 226,876 shares of the medical device company’s stock worth $5,166,000 after buying an additional 113,301 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.