AtriCure (NASDAQ:ATRC) Trading Up 6.3% Following Analyst Upgrade

AtriCure, Inc. (NASDAQ:ATRC) was up 6.3% during trading on Wednesday after Needham & Company LLC raised their price target on the stock from $45.00 to $64.00. Needham & Company LLC currently has a buy rating on the stock. AtriCure traded as high as $52.00 and last traded at $51.9880. Approximately 126,350 shares traded hands during trading, a decline of 84% from the average daily volume of 785,052 shares. The stock had previously closed at $48.92.

Several other equities analysts have also issued reports on ATRC. UBS Group decreased their target price on AtriCure from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Raymond James Financial set a $52.00 target price on shares of AtriCure in a report on Tuesday, July 21st. BTIG Research raised their price target on shares of AtriCure from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Piper Sandler lifted their price objective on AtriCure from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings raised AtriCure from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Insiders Place Their Bets

In related news, Director Sven Wehrwein sold 25,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $37.84, for a total value of $946,000.00. Following the completion of the transaction, the director owned 40,518 shares of the company’s stock, valued at approximately $1,533,201.12. The trade was a 38.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $38.42, for a total transaction of $134,470.00. Following the completion of the transaction, the director directly owned 14,015 shares of the company’s stock, valued at approximately $538,456.30. This represents a 19.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 53,616 shares of company stock valued at $2,149,994. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in AtriCure by 13.7% during the 1st quarter. Bank of America Corp DE now owns 768,561 shares of the medical device company’s stock valued at $21,927,000 after acquiring an additional 92,830 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of AtriCure during the 2nd quarter worth approximately $1,744,000. Rice Hall James & Associates LLC bought a new stake in AtriCure in the second quarter valued at $3,755,000. F m Investments LLC bought a new stake in AtriCure in the 4th quarter valued at about $2,872,000. Finally, Vanguard Group Inc. grew its position in AtriCure by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 4,903,755 shares of the medical device company’s stock worth $193,993,000 after purchasing an additional 62,861 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Stock Performance

The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 244.39 and a beta of 1.26. The company has a 50-day moving average price of $38.70 and a 200-day moving average price of $32.41. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14.

AtriCure (NASDAQ:ATRC) last released its earnings results on Thursday, July 23rd. The medical device company reported $0.18 earnings per share for the quarter. AtriCure had a return on equity of 2.34% and a net margin of 1.85%.The firm had revenue of $153.60 million during the quarter, compared to the consensus estimate of $151.80 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. AtriCure has set its FY 2026 guidance at 0.240-0.320 EPS. As a group, equities research analysts forecast that AtriCure, Inc. will post 0.29 earnings per share for the current year.

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.