AtriCure, Inc. (NASDAQ:ATRC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $52.8333.

Several analysts have commented on ATRC shares. Canaccord Genuity Group raised their price objective on shares of AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of AtriCure in a research note on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of AtriCure in a research note on Thursday. Citigroup reissued a “market outperform” rating on shares of AtriCure in a research report on Thursday, October 30th. Finally, Zacks Research upgraded shares of AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th.

Insider Buying and Selling at AtriCure

In related news, Director Maggie Yuen sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $35.72, for a total value of $107,160.00. Following the sale, the director owned 11,371 shares in the company, valued at $406,172.12. This represents a 20.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Justin J. Noznesky sold 5,166 shares of AtriCure stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total value of $192,640.14. Following the transaction, the insider owned 78,798 shares of the company’s stock, valued at $2,938,377.42. The trade was a 6.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 18,166 shares of company stock valued at $676,378. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP raised 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 purchasing an additional 322,818 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in AtriCure by 36.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock worth $29,501,000 after buying an additional 222,529 shares in the last quarter. Norges Bank purchased a new position in AtriCure in the 4th quarter worth about $8,466,000. Oberweis Asset Management Inc. bought a new position in AtriCure during the 3rd quarter valued at about $5,411,000. Finally, WCM Investment Management LLC lifted its stake in AtriCure by 69.4% during the 2nd quarter. WCM Investment Management LLC now owns 327,498 shares of the medical device company’s stock valued at $10,572,000 after acquiring an additional 134,146 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Trading Down 3.3%

Shares of ATRC opened at $31.80 on Friday. The firm’s 50-day moving average price is $39.18 and its 200-day moving average price is $36.78. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -52.13 and a beta of 1.41. The company has a current ratio of 3.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.15. AtriCure has a 1-year low of $28.29 and a 1-year high of $43.18.

About AtriCure

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.