AtriCure Inc. (ATRC) Receives Average Rating of “Buy” from Brokerages

AtriCure Inc. (NASDAQ:ATRC) has been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.67.

ATRC has been the topic of a number of research analyst reports. Northland Securities reissued a “buy” rating and set a $24.00 price objective on shares of AtriCure in a research report on Monday, March 20th. Zacks Investment Research downgraded shares of AtriCure from a “buy” rating to a “hold” rating in a research report on Wednesday, December 28th. Canaccord Genuity reissued a “buy” rating and set a $20.00 price objective on shares of AtriCure in a research report on Monday, February 6th. BTIG Research downgraded shares of AtriCure from a “buy” rating to a “neutral” rating in a research report on Monday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of AtriCure in a research report on Wednesday, March 1st.

In related news, SVP Andrew L. Lux sold 20,000 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $18.85, for a total transaction of $377,000.00. Following the sale, the senior vice president now directly owns 85,589 shares of the company’s stock, valued at approximately $1,613,352.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted its position in AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock valued at $200,000 after buying an additional 128 shares in the last quarter. Teachers Advisors LLC boosted its position in AtriCure by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 71,668 shares of the medical device company’s stock valued at $1,403,000 after buying an additional 1,520 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its position in AtriCure by 1.6% in the third quarter. Paradigm Capital Management Inc. NY now owns 334,425 shares of the medical device company’s stock valued at $5,291,000 after buying an additional 5,200 shares in the last quarter. First Light Asset Management LLC boosted its position in AtriCure by 1.0% in the fourth quarter. First Light Asset Management LLC now owns 939,012 shares of the medical device company’s stock valued at $18,376,000 after buying an additional 9,136 shares in the last quarter. Finally, Perkins Capital Management Inc. boosted its position in AtriCure by 7.4% in the first quarter. Perkins Capital Management Inc. now owns 137,217 shares of the medical device company’s stock valued at $2,628,000 after buying an additional 9,467 shares in the last quarter. Institutional investors and hedge funds own 79.30% of the company’s stock.

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Shares of AtriCure (NASDAQ:ATRC) traded down 0.71% on Monday, reaching $19.55. 59,771 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $18.83 and its 200 day moving average price is $17.95. The company’s market cap is $651.76 million. AtriCure has a 12 month low of $13.44 and a 12 month high of $20.40.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, February 28th. The medical device company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.05. AtriCure had a negative net margin of 23.78% and a negative return on equity of 19.84%. The company earned $41.20 million during the quarter, compared to analyst estimates of $41.17 million. During the same period in the prior year, the business posted ($0.36) EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts predict that AtriCure will post ($0.99) EPS for the current fiscal year.

AtriCure Company Profile

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.

5 Day Chart for NASDAQ:ATRC

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