AtriCure (NASDAQ:ATRC) Upgraded at StockNews.com

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

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

AtriCure Stock Down 3.2 %

AtriCure stock opened at $27.30 on Friday. The stock has a 50-day simple moving average of $24.10 and a 200-day simple moving average of $24.88. The company has a market capitalization of $1.30 billion, a P/E ratio of -34.13 and a beta of 1.43. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.93 and a current ratio of 4.13. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $44.64.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). The company had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) EPS. Equities research analysts expect that AtriCure will post -0.77 earnings per share for the current year.

Insider Activity

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 8,970 shares of the company’s stock, valued at approximately $215,907.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of AtriCure by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after acquiring an additional 76,146 shares during the period. Champlain Investment Partners LLC raised its position in shares of AtriCure by 27.3% in the 1st quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock worth $81,556,000 after purchasing an additional 575,605 shares during the last quarter. First Light Asset Management LLC raised its position in AtriCure by 42.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock worth $44,736,000 after buying an additional 581,843 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in shares of AtriCure during the 2nd quarter valued at about $40,422,000. Finally, Wellington Management Group LLP grew its stake in shares of AtriCure by 7.8% during the 4th quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock valued at $47,448,000 after acquiring an additional 95,824 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.