StockNews.com Upgrades AtriCure (NASDAQ:ATRC) to Hold

StockNews.com upgraded shares of AtriCure (NASDAQ:ATRC) from a sell rating to a hold rating in a research note published on Saturday morning.

Several other research analysts have also recently weighed in on ATRC. Stifel Nicolaus lowered their price objective on AtriCure from $30.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Piper Sandler decreased their price objective on AtriCure from $65.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Needham & Company LLC lowered their target price on shares of AtriCure from $40.00 to $34.00 and set a buy rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of AtriCure from $34.00 to $30.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Finally, BTIG Research dropped their price target on shares of AtriCure from $58.00 to $53.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $42.44.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $27.30 on Friday. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $44.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93. The stock has a market capitalization of $1.30 billion, a P/E ratio of -34.13 and a beta of 1.43. The business has a 50-day moving average of $24.10 and a two-hundred day moving average of $24.88.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). The business had revenue of $116.27 million for the quarter, compared to the consensus estimate of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. AtriCure’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. On average, equities research analysts predict that AtriCure will post -0.77 EPS for the current fiscal year.

Insider Transactions at AtriCure

In other news, Director Maggie Yuen sold 3,500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now owns 8,970 shares in the company, valued at approximately $215,907.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of AtriCure

Several large investors have recently modified their holdings of ATRC. Comerica Bank boosted its holdings in shares of AtriCure by 70.5% during the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after buying an additional 1,043 shares during the period. Quest Partners LLC bought a new stake in AtriCure in the 4th quarter valued at $103,000. Virtu Financial LLC bought a new stake in AtriCure in the 4th quarter valued at $213,000. Victory Capital Management Inc. boosted its holdings in AtriCure by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after purchasing an additional 1,155 shares during the period. Finally, Mount Yale Investment Advisors LLC boosted its holdings in AtriCure by 32.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after purchasing an additional 2,368 shares during the period. 99.11% of the stock is owned by institutional investors.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.