AtriCure, Inc. (NASDAQ:ATRC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.7143.

ATRC has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $54.00 price objective on shares of AtriCure in a research note on Wednesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of AtriCure in a research note on Thursday, February 12th. Wall Street Zen cut shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Oppenheimer cut shares of AtriCure from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings cut shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th.

Insider Buying and Selling

In other AtriCure news, Director Karen Prange sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total value of $85,950.00. Following the completion of the transaction, the director owned 26,373 shares of the company’s stock, valued at $755,586.45. The trade was a 10.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vinayak Doraiswamy sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the transaction, the insider directly owned 96,875 shares of the company’s stock, valued at approximately $2,889,781.25. This represents a 4.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On AtriCure

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd grew its stake in AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after buying an additional 538 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in AtriCure in the 2nd quarter worth approximately $37,000. Smartleaf Asset Management LLC grew its stake in AtriCure by 59.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock worth $46,000 after buying an additional 429 shares in the last quarter. Fifth Third Bancorp purchased a new position in AtriCure in the 1st quarter worth approximately $51,000. Finally, Global Retirement Partners LLC purchased a new position in AtriCure in the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $28.29 on Friday. The company has a 50 day moving average of $28.62 and a 200 day moving average of $33.64. The stock has a market cap of $1.43 billion, a P/E ratio of -282.90 and a beta of 1.28. AtriCure has a 12 month low of $25.52 and a 12 month high of $43.18. The company has a current ratio of 4.29, a quick ratio of 3.18 and a debt-to-equity ratio of 0.15.

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.