AtriCure, Inc. (NASDAQ:ATRC) Receives Average Recommendation of "Buy" from Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) have received a consensus rating of "Buy" from the nine research firms that are covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $42.44.

ATRC has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on AtriCure from $34.00 to $30.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus lowered their price objective on shares of AtriCure from $30.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. BTIG Research reduced their target price on shares of AtriCure from $58.00 to $53.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a "sell" rating to a "hold" rating in a research note on Saturday, September 14th. Finally, Piper Sandler reduced their price objective on AtriCure from $65.00 to $40.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st.

Insider Activity

In other news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now owns 8,970 shares of the company's stock, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On AtriCure

A number of institutional investors have recently added to or reduced their stakes in ATRC. Hood River Capital Management LLC bought a new position in AtriCure during the 2nd quarter valued at approximately $40,422,000. First Light Asset Management LLC boosted its stake in AtriCure by 42.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company's stock worth $44,736,000 after purchasing an additional 581,843 shares in the last quarter. Champlain Investment Partners LLC grew its position in AtriCure by 27.3% during the 1st quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company's stock valued at $81,556,000 after purchasing an additional 575,605 shares during the last quarter. Millennium Management LLC increased its stake in AtriCure by 132.5% during the 2nd quarter. Millennium Management LLC now owns 952,765 shares of the medical device company's stock valued at $21,694,000 after purchasing an additional 543,023 shares in the last quarter. Finally, Natixis bought a new position in shares of AtriCure in the first quarter worth approximately $9,126,000. Institutional investors own 99.11% of the company's stock.

AtriCure Price Performance

NASDAQ ATRC traded down $0.75 on Friday, hitting $27.93. The stock had a trading volume of 571,567 shares, compared to its average volume of 717,613. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.00. The firm has a 50-day moving average of $27.25 and a 200-day moving average of $24.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -34.91 and a beta of 1.44.

AtriCure (NASDAQ:ATRC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The company had revenue of $116.27 million for the quarter, compared to analysts' expectations of $116.24 million. During the same period in the prior year, the business earned ($0.12) earnings per share. AtriCure's revenue for the quarter was up 15.2% compared to the same quarter last year. Equities analysts expect that AtriCure will post -0.77 EPS for the current year.

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.