AtriCure Inc. (NASDAQ:ATRC) Receives $36.20 Average Target Price from Analysts

Shares of AtriCure Inc. (NASDAQ:ATRC) have received a consensus recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.83.

Several equities analysts have issued reports on ATRC shares. BidaskClub downgraded AtriCure from a “strong-buy” rating to a “buy” rating in a research report on Thursday. BTIG Research reissued a “buy” rating and issued a $35.00 target price on shares of AtriCure in a research note on Tuesday. Northland Securities cut AtriCure from an “outperform” rating to a “market perform” rating and set a $30.00 target price for the company. in a research note on Tuesday. Needham & Company LLC set a $39.00 target price on AtriCure and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Piper Jaffray Companies set a $40.00 target price on AtriCure and gave the company a “buy” rating in a research note on Monday, August 12th.

Shares of ATRC opened at $27.32 on Wednesday. The stock has a fifty day moving average price of $30.99 and a two-hundred day moving average price of $29.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.10 and a current ratio of 3.72. AtriCure has a 52-week low of $26.11 and a 52-week high of $36.49. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -29.06 and a beta of 0.24.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. AtriCure had a negative return on equity of 13.06% and a negative net margin of 9.46%. The firm had revenue of $58.90 million during the quarter, compared to the consensus estimate of $57.76 million. During the same quarter in the previous year, the company posted ($0.19) EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, research analysts predict that AtriCure will post -0.9 EPS for the current fiscal year.

In related news, CEO Michael H. Carrel sold 1,454 shares of AtriCure stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.00, for a total transaction of $47,982.00. Following the completion of the sale, the chief executive officer now directly owns 637,557 shares of the company’s stock, valued at $21,039,381. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Justin J. Noznesky sold 10,000 shares of AtriCure stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the senior vice president now directly owns 94,068 shares of the company’s stock, valued at $2,822,040. The disclosure for this sale can be found here. Insiders sold a total of 37,158 shares of company stock valued at $1,169,102 over the last three months. Insiders own 8.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Assetmark Inc. lifted its holdings in AtriCure by 109.7% during the second quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock worth $29,000 after acquiring an additional 510 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of AtriCure by 114.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,597 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 853 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of AtriCure in the first quarter valued at about $82,000. Captrust Financial Advisors bought a new stake in shares of AtriCure in the second quarter valued at about $134,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of AtriCure by 100.8% in the second quarter. Acadian Asset Management LLC now owns 4,623 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 2,321 shares in the last quarter. 89.99% of the stock is owned by institutional investors and hedge funds.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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