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

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $48.7143.

A number of brokerages have recently issued reports on ATRC. Weiss Ratings lowered AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Freedom Capital raised AtriCure to a “strong-buy” rating in a report on Wednesday, April 1st. Zacks Research downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Canaccord Genuity Group raised their price objective on AtriCure from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen lowered AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd.

Insider Buying and Selling at AtriCure

In related news, Director Karen Prange sold 3,000 shares of AtriCure stock in a transaction 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 sale, the director owned 26,373 shares in the company, valued at approximately $755,586.45. The trade was a 10.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Oak Harvest Investment Services bought a new position in shares of AtriCure during the fourth quarter worth about $1,484,000. Massachusetts Financial Services Co. MA increased its holdings in AtriCure by 20.4% in 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 buying an additional 86,532 shares during the last quarter. F m Investments LLC bought a new stake in AtriCure in the fourth quarter valued at about $2,872,000. Vanguard Group Inc. raised its stake in 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 buying an additional 62,861 shares in the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in AtriCure during the fourth quarter valued at approximately $4,613,000. 99.11% of the stock is currently owned by institutional investors.

AtriCure Stock Performance

Shares of ATRC stock opened at $34.28 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.29 and a quick ratio of 3.18. The company’s fifty day moving average price is $28.66 and its two-hundred day moving average price is $31.75. The firm has a market capitalization of $1.74 billion, a P/E ratio of -342.80 and a beta of 1.24. AtriCure has a 12 month low of $25.36 and a 12 month high of $43.18.

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.