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

AtriCure, Inc. (NASDAQ:ATRC) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $48.7143.

ATRC has been the subject of a number of analyst reports. Freedom Capital raised AtriCure to a “strong-buy” rating in a report on Wednesday, April 1st. Zacks Research cut AtriCure from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. BTIG Research reaffirmed a “buy” rating and issued a $54.00 price target on shares of AtriCure in a report on Wednesday, February 18th. UBS Group reduced their price target on AtriCure from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Finally, Citizens Jmp reduced their price target on AtriCure from $60.00 to $52.00 and set a “market outperform” rating for the company in a report on Wednesday, February 18th.

Insider Activity at AtriCure

In other AtriCure news, Director Karen Prange sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $28.65, for a total transaction 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. This represents a 10.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On AtriCure

Hedge funds have recently made changes to their positions in the company. Oak Harvest Investment Services acquired a new position in shares of AtriCure during the fourth quarter valued at approximately $1,484,000. Massachusetts Financial Services Co. MA raised its holdings in shares of AtriCure by 20.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 511,213 shares of the medical device company’s stock valued at $20,224,000 after acquiring an additional 86,532 shares during the last quarter. Citigroup Inc. raised its holdings in shares of AtriCure by 182.0% during the third quarter. Citigroup Inc. now owns 57,085 shares of the medical device company’s stock valued at $2,012,000 after acquiring an additional 36,839 shares during the last quarter. F m Investments LLC acquired a new position in shares of AtriCure during the fourth quarter valued at approximately $2,872,000. Finally, Vanguard Group Inc. raised its holdings in shares of AtriCure by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 4,903,755 shares of the medical device company’s stock valued at $193,993,000 after acquiring an additional 62,861 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Stock Performance

NASDAQ ATRC opened at $27.12 on Thursday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -271.20 and a beta of 1.26. AtriCure has a twelve month low of $25.36 and a twelve 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. The stock has a 50-day moving average of $27.99 and a 200 day moving average of $32.83.

AtriCure Company Profile

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.