AtriCure (NASDAQ:ATRC) Rating Lowered to “Buy” at Wall Street Zen

AtriCure (NASDAQ:ATRC) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued reports about the company. UBS Group dropped their target price on AtriCure from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, January 21st. Zacks Research downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Citigroup reissued an “outperform” rating on shares of AtriCure in a report on Wednesday, February 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of AtriCure in a research report on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

AtriCure Stock Performance

ATRC opened at $28.88 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.96 and a quick ratio of 2.99. The firm has a fifty day moving average price of $33.16 and a 200 day moving average price of $35.64. AtriCure has a 1 year low of $28.29 and a 1 year high of $43.18. The stock has a market cap of $1.44 billion, a P/E ratio of -120.33 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.50 million. During the same period in the prior year, the firm posted ($0.33) earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that AtriCure will post -0.6 earnings per share for the current year.

Insider Activity at AtriCure

In related news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the completion of the transaction, the insider directly owned 96,875 shares of the company’s stock, valued at approximately $2,889,781.25. This represents a 4.91% decrease in their position. The transaction was disclosed in a document filed 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 institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of AtriCure by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,903,755 shares of the medical device company’s stock valued at $193,993,000 after buying an additional 62,861 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of AtriCure by 8.1% in the third quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock worth $151,296,000 after buying an additional 322,818 shares in the last quarter. Hood River Capital Management LLC boosted its position in AtriCure by 2.1% during the second quarter. Hood River Capital Management LLC now owns 3,061,059 shares of the medical device company’s stock worth $100,311,000 after acquiring an additional 61,852 shares during the last quarter. Neuberger Berman Group LLC boosted its position in AtriCure by 0.3% during the second quarter. Neuberger Berman Group LLC now owns 1,189,739 shares of the medical device company’s stock worth $38,969,000 after acquiring an additional 3,674 shares during the last quarter. Finally, First Light Asset Management LLC grew its stake in AtriCure by 32.0% during the 4th quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock valued at $46,501,000 after acquiring an additional 285,083 shares in the last quarter. Institutional investors and hedge funds 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.