AtriCure Inc. (NASDAQ:ATRC) Receives Consensus Rating of “Buy” from Analysts

Shares of AtriCure Inc. (NASDAQ:ATRC) have received a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $37.00.

ATRC has been the subject of several research analyst reports. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. Northland Securities reaffirmed a “hold” rating on shares of Lendingtree in a report on Friday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 target price (up previously from $115.00) on shares of Synopsys in a report on Thursday, March 28th. JPMorgan Chase & Co. set a €78.00 ($90.70) price objective on shares of Porsche Automobil and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Zacks Investment Research raised shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday.

Shares of ATRC stock opened at $31.15 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of -33.14 and a beta of 0.27. The company has a quick ratio of 3.69, a current ratio of 4.37 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average is $30.34. AtriCure has a 52 week low of $26.11 and a 52 week high of $36.49.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Thursday, April 25th. The medical device company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. The business had revenue of $53.97 million during the quarter, compared to the consensus estimate of $52.45 million. AtriCure had a negative net margin of 7.98% and a negative return on equity of 14.35%. AtriCure’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.31) EPS. As a group, equities research analysts anticipate that AtriCure will post -0.74 earnings per share for the current fiscal year.

In other AtriCure news, CEO Michael H. Carrel sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $32.00, for a total value of $800,000.00. Following the completion of the sale, the chief executive officer now owns 661,103 shares of the company’s stock, valued at approximately $21,155,296. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Justin J. Noznesky sold 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the senior vice president now directly owns 94,068 shares of the company’s stock, valued at approximately $2,822,040. The disclosure for this sale can be found here. Insiders sold a total of 60,554 shares of company stock valued at $1,866,620 in the last three months. Insiders own 8.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bell Rock Capital LLC acquired a new position in shares of AtriCure in the 1st quarter valued at approximately $26,000. Quantamental Technologies LLC acquired a new position in shares of AtriCure in the 1st quarter valued at approximately $82,000. PNC Financial Services Group Inc. raised its position in shares of AtriCure by 121.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,331 shares of the medical device company’s stock valued at $133,000 after buying an additional 2,373 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of AtriCure by 104.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 4,400 shares of the medical device company’s stock valued at $130,000 after buying an additional 2,246 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of AtriCure in the 1st quarter valued at approximately $145,000. 89.34% of the stock is owned by hedge funds and other institutional investors.

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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