AtriCure (NASDAQ:ATRC) Earns Buy Rating from BTIG Research

AtriCure (NASDAQ:ATRC)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a research note issued on Wednesday,Benzinga reports. They presently have a $54.00 price objective on the medical device company’s stock. BTIG Research’s price target would indicate a potential upside of 66.77% from the stock’s current price.

ATRC has been the topic of a number of other research reports. Zacks Research raised shares of AtriCure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. downgraded AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research report on Wednesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of AtriCure in a report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group raised their price objective on AtriCure from $53.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.

AtriCure Price Performance

Shares of NASDAQ ATRC opened at $32.38 on Wednesday. The stock’s 50-day simple moving average is $38.41 and its two-hundred day simple moving average is $36.74. AtriCure has a twelve month low of $28.29 and a twelve month high of $43.18. The firm has a market capitalization of $1.61 billion, a P/E ratio of -134.92 and a beta of 1.41. The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, February 17th. The medical device company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.10. The company had revenue of $140.50 million during the quarter, compared to analyst estimates of $140.50 million. AtriCure had a negative return on equity of 1.17% and a negative net margin of 2.14%.AtriCure’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. As a group, equities analysts anticipate that AtriCure will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling at AtriCure

In related news, insider Justin J. Noznesky sold 5,166 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $37.29, for a total value of $192,640.14. Following the sale, the insider directly owned 78,798 shares of the company’s stock, valued at $2,938,377.42. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sven Wehrwein sold 4,967 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $38.00, for a total value of $188,746.00. Following the transaction, the director owned 34,374 shares in the company, valued at approximately $1,306,212. This represents a 12.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,166 shares of company stock valued at $569,218 in the last three months. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AtriCure

A number of large investors have recently made changes to their positions in ATRC. Nicholas Company Inc. increased its stake in shares of AtriCure by 8.5% in the 2nd quarter. Nicholas Company Inc. now owns 192,635 shares of the medical device company’s stock worth $6,313,000 after acquiring an additional 15,135 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of AtriCure during the second quarter valued at approximately $284,000. Squarepoint Ops LLC boosted its position in shares of AtriCure by 64.7% in the 2nd quarter. Squarepoint Ops LLC now owns 186,965 shares of the medical device company’s stock worth $6,127,000 after purchasing an additional 73,468 shares in the last quarter. Riverwater Partners LLC grew its stake in shares of AtriCure by 79.2% in the 3rd quarter. Riverwater Partners LLC now owns 60,322 shares of the medical device company’s stock worth $2,126,000 after buying an additional 26,657 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in AtriCure by 1.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 755,537 shares of the medical device company’s stock valued at $24,759,000 after buying an additional 7,731 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.