AtriCure, Inc. (NASDAQ:ATRC) had its price objective cut by Needham & Company LLC from $26.00 to $25.00 in a research report report published on Thursday morning, Marketbeat reports. They currently have a buy rating on the medical device company’s stock.
A number of other research firms have also recently commented on ATRC. Stifel Nicolaus reissued a buy rating and set a $25.00 target price on shares of AtriCure in a research note on Sunday, July 30th. BidaskClub cut shares of AtriCure from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Canaccord Genuity reissued a buy rating and set a $28.00 target price on shares of AtriCure in a research note on Monday, October 9th. Finally, Zacks Investment Research raised shares of AtriCure from a sell rating to a hold rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $25.00.
AtriCure (NASDAQ:ATRC) traded up $0.61 during mid-day trading on Thursday, hitting $20.19. 194,791 shares of the stock were exchanged, compared to its average volume of 167,523. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.93 and a current ratio of 2.56.
AtriCure (NASDAQ:ATRC) last released its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $43.44 million. AtriCure had a negative net margin of 19.40% and a negative return on equity of 20.13%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) earnings per share. research analysts forecast that AtriCure will post -0.96 EPS for the current fiscal year.
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In related news, Director Elizabeth D. Krell sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total transaction of $224,000.00. Following the completion of the sale, the director now owns 29,967 shares of the company’s stock, valued at approximately $671,260.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in AtriCure by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 36,056 shares of the medical device company’s stock valued at $874,000 after acquiring an additional 130 shares in the last quarter. Legal & General Group Plc grew its stake in AtriCure by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock valued at $208,000 after acquiring an additional 312 shares in the last quarter. Voya Investment Management LLC grew its stake in AtriCure by 7.9% during the 2nd quarter. Voya Investment Management LLC now owns 17,158 shares of the medical device company’s stock valued at $416,000 after acquiring an additional 1,250 shares in the last quarter. American International Group Inc. grew its stake in AtriCure by 7.0% during the 1st quarter. American International Group Inc. now owns 19,346 shares of the medical device company’s stock valued at $370,000 after acquiring an additional 1,273 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in AtriCure by 1.7% during the 2nd quarter. Teachers Advisors LLC now owns 78,341 shares of the medical device company’s stock valued at $1,900,000 after acquiring an additional 1,321 shares in the last quarter. 82.19% of the stock is owned by institutional investors.
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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