AtriCure, Inc. (NASDAQ:ATRC) receives a consensus rating of “Buy” from analysts

VaselineOctober 1, 2024

0 3 minutes read

AtriCure, Inc. (NASDAQ:ATRC – Get Your Free Report ) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $42.44.

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on AtriCure from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Piper Sandler reduced their price objective on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. BTIG Research cut their price target on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC cut their price target on shares of AtriCure from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Stifel Nicolaus cut their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, July 31st.

Check out our latest review on AtriCure

AtriCure stock down 0.5%

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Shares of ATRC stock opened at $28.04 on Tuesday. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $43.54. The company’s fifty day moving average is $24.98 and its two hundred day moving average is $24.38. The firm has a market cap of $1.33 billion, a PE ratio of -35.05 and a beta of 1.43. The company has a quick ratio of 2.93, a current ratio of 4.13, and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC – Get Free Report ) last posted its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.17). The firm had revenue of $116.27 million for the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. In the same quarter last year, the company earned ($0.12) earnings per share. Analysts forecast that AtriCure will post -0.77 earnings per share for the current year.

Insider buying and selling

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value 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 filing with the Securities & Exchange Commission, which is accessible via this link. 3.20% of shares are currently owned by insiders.

Institutional investors are weighing in on AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of AtriCure by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after purchasing an additional 76,146 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in AtriCure by 27.3% in the first quarter. Champlain Investment Partners LLC now owns 2,681,000 shares of the medical device company’s stock valued at $81,556,000 after purchasing an additional 575,605 shares in the last quarter. First Light Asset Management LLC raised its holdings 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 purchasing another 581,843 shares in the last quarter. Hood River Capital Management LLC acquired a new position in AtriCure in the second quarter valued at $40,422,000. Finally, Wellington Management Group LLP raised its position 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 worth $47,448,000. after buying an additional 95,824 shares in the last quarter. 99.11% of shares are currently held by hedge funds and other institutional investors.

AtriCure Company Profile

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AtriCure, Inc develops, manufactures and sells devices for surgical cardiac tissue ablation, left atrial appendage exclusion and temporary peripheral nerve ablation pain blockade to medical centers in the United States, Europe, Asia-Pacific and internationally. The company offers Isolator Synergy Clamps, disposable radio frequency products; multi-functional pens and linear ablation devices, such as the MAX Pen device, which allows surgeons to assess cardiac arrhythmias, perform pacing, detection and temporary pacing, and ablate cardiac tissue with the same device; and the Coolrail device, which allows users to achieve longer linear ablation lines.