AtriCure’s (ATRC) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of AtriCure (NASDAQ:ATRC) in a research report released on Wednesday,Benzinga reports. Piper Sandler currently has a $70.00 price objective on the medical device company’s stock, up from their previous price objective of $60.00.

Several other equities analysts also recently commented on ATRC. UBS Group downgraded AtriCure from a “buy” rating to a “sell” rating in a research note on Wednesday, October 21st. Stifel Nicolaus set a $65.00 target price on AtriCure in a research report on Thursday, September 17th. Raymond James Financial set a $52.00 target price on AtriCure in a research note on Tuesday, July 21st. Freedom Capital lowered AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Finally, Zacks Research cut AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.80.

AtriCure Stock Performance

ATRC stock traded down $2.74 during mid-day trading on Wednesday, hitting $58.54. The company had a trading volume of 614,651 shares, compared to its average volume of 706,027. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.19 and a current ratio of 4.22. The firm has a market cap of $2.98 billion, a PE ratio of 195.14 and a beta of 1.23. AtriCure has a 12 month low of $25.36 and a 12 month high of $66.02. The stock’s fifty day moving average price is $56.81 and its two-hundred day moving average price is $38.73.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, November 3rd. The medical device company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. AtriCure had a net margin of 1.85% and a return on equity of 2.34%. The firm had revenue of $154.45 million during the quarter, compared to the consensus estimate of $151.05 million. On average, analysts forecast that AtriCure will post 0.44 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In related news, insider Karl S. Dahlquist sold 9,370 shares of AtriCure stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $48.89, for a total value of $458,099.30. Following the completion of the transaction, the insider directly owned 87,319 shares in the company, valued at approximately $4,269,025.91. The trade was a 9.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Regina E. Groves sold 5,313 shares of AtriCure stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $54.22, for a total transaction of $288,070.86. Following the completion of the transaction, the director owned 34,546 shares of the company’s stock, valued at $1,873,084.12. This represents a 13.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 39,026 shares of company stock worth $2,172,263. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AtriCure

Several institutional investors have recently made changes to their positions in ATRC. Allworth Financial LP boosted its holdings in shares of AtriCure by 54.5% in the third quarter. Allworth Financial LP now owns 2,359 shares of the medical device company’s stock worth $133,000 after acquiring an additional 832 shares during the period. Russell Investments Group Ltd. lifted its holdings in AtriCure by 4.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 22,808 shares of the medical device company’s stock worth $1,282,000 after purchasing an additional 900 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in AtriCure by 43.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,983 shares of the medical device company’s stock worth $158,000 after purchasing an additional 1,205 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in AtriCure in the 2nd quarter worth about $40,000. Finally, Sterling Capital Management LLC boosted its stake in AtriCure by 841.1% in the 3rd quarter. Sterling Capital Management LLC now owns 1,647 shares of the medical device company’s stock worth $93,000 after purchasing an additional 1,472 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.