AtriCure, Inc. (ATRC) Receives Consensus Rating of “Buy” from Analysts
AtriCure, Inc. (NASDAQ:ATRC) has been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.67.
A number of brokerages have weighed in on ATRC. Needham & Company LLC cut their target price on shares of AtriCure from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday. Zacks Investment Research upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub lowered shares of AtriCure from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Stifel Nicolaus reiterated a “buy” rating and set a $25.00 target price on shares of AtriCure in a research report on Sunday, July 30th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $28.00 target price on shares of AtriCure in a research report on Monday, October 9th.
AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The firm had revenue of $42.20 million during the quarter, compared to analyst estimates of $43.44 million. AtriCure had a negative net margin of 19.56% and a negative return on equity of 19.56%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share.
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In other news, Director Elizabeth D. Krell sold 10,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total value of $224,000.00. Following the sale, the director now directly owns 29,967 shares of the company’s stock, valued at $671,260.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 10.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of AtriCure by 152.1% in the second quarter. US Bancorp DE now owns 4,202 shares of the medical device company’s stock worth $102,000 after buying an additional 2,535 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of AtriCure by 75.5% in the second quarter. Sei Investments Co. now owns 6,933 shares of the medical device company’s stock worth $168,000 after buying an additional 2,983 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of AtriCure by 3.8% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock worth $208,000 after buying an additional 312 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of AtriCure in the second quarter worth about $253,000. Finally, Commerce Bank purchased a new stake in shares of AtriCure in the second quarter worth about $266,000. 82.19% of the stock is currently owned by hedge funds and other institutional investors.
AtriCure Company Profile
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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