AtriCure (NASDAQ:ATRC) Given Buy Rating at BTIG Research

AtriCure (NASDAQ:ATRCGet Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a note issued to investors on Wednesday,Benzinga reports. They presently have a $54.00 price target on the medical device company’s stock. BTIG Research’s price objective indicates a potential upside of 63.79% from the stock’s current price.

ATRC has been the topic of several other research reports. JPMorgan Chase & Co. downgraded shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Wednesday, February 11th. Zacks Research raised shares of AtriCure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, January 21st. Oppenheimer lowered AtriCure from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of AtriCure in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Read Our Latest Research Report on AtriCure

AtriCure Stock Up 1.0%

Shares of NASDAQ:ATRC opened at $32.97 on Wednesday. The firm has a market capitalization of $1.64 billion, a PE ratio of -54.05 and a beta of 1.41. The business has a 50 day simple moving average of $38.77 and a two-hundred day simple moving average of $36.80. AtriCure has a 1 year low of $28.29 and a 1 year high of $43.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.85.

AtriCure (NASDAQ:ATRCGet Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. The company had revenue of $140.50 million during the quarter, compared to analysts’ expectations of $140.50 million. AtriCure had a negative return on equity of 2.54% and a negative net margin of 5.55%.AtriCure’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.33) EPS. On average, equities analysts predict that AtriCure will post -0.6 EPS for the current year.

Insider Transactions at AtriCure

In other AtriCure news, insider Justin J. Noznesky sold 5,166 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total value of $192,640.14. Following the completion of the transaction, the insider directly owned 78,798 shares in the company, valued at approximately $2,938,377.42. The trade was a 6.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sven Wehrwein sold 5,033 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $37.32, for a total transaction of $187,831.56. Following the sale, the director directly owned 34,374 shares of the company’s stock, valued at approximately $1,282,837.68. The trade was a 12.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,166 shares of company stock valued at $676,378. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in AtriCure by 18.8% in the 4th quarter. AQR Capital Management LLC now owns 99,956 shares of the medical device company’s stock worth $3,954,000 after purchasing an additional 15,784 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of AtriCure by 6.1% during the fourth quarter. Lazard Asset Management LLC now owns 49,719 shares of the medical device company’s stock valued at $1,967,000 after buying an additional 2,878 shares during the last quarter. First Light Asset Management LLC raised its stake in AtriCure by 32.0% in the 4th quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock worth $46,501,000 after acquiring an additional 285,083 shares during the last quarter. Trexquant Investment LP lifted its position in AtriCure by 16.8% during the 4th quarter. Trexquant Investment LP now owns 77,667 shares of the medical device company’s stock worth $3,073,000 after acquiring an additional 11,147 shares during the period. Finally, Amundi increased its holdings in shares of AtriCure by 5.2% in the fourth quarter. Amundi now owns 230,852 shares of the medical device company’s stock valued at $9,133,000 after purchasing an additional 11,476 shares during the period. Institutional investors own 99.11% of the company’s stock.

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AtriCure Company Profile

(Get Free Report)

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.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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