AtriCure’s (NASDAQ:ATRC) “Buy” Rating Reiterated at Stifel Nicolaus

AtriCure, Inc. (NASDAQ:ATRC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Stifel Nicolaus in a research note issued on Sunday, July 30th. They currently have a $25.00 price target on the medical device company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 11.76% from the stock’s previous close.

A number of other analysts have also recently weighed in on ATRC. Zacks Investment Research raised shares of AtriCure from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, May 9th. TheStreet raised shares of AtriCure from a “d+” rating to a “c-” rating in a report on Monday, May 15th. Needham & Company LLC restated a “buy” rating and set a $26.00 price target (up previously from $25.00) on shares of AtriCure in a research report on Friday, July 28th. Canaccord Genuity restated a “buy” rating and set a $22.00 price target on shares of AtriCure in a research report on Monday, April 17th. Finally, ValuEngine upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. AtriCure currently has an average rating of “Buy” and a consensus target price of $25.00.

Shares of AtriCure (NASDAQ ATRC) opened at 22.37 on Friday. The stock has a 50 day moving average of $23.54 and a 200-day moving average of $20.78. The firm’s market capitalization is $768.05 million. AtriCure has a one year low of $14.41 and a one year high of $25.18.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Thursday, July 27th. The medical device company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. The business had revenue of $45.23 million for the quarter, compared to analysts’ expectations of $44.15 million. AtriCure had a negative net margin of 19.56% and a negative return on equity of 19.56%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.26) earnings per share. On average, equities analysts anticipate that AtriCure will post ($0.95) earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of ATRC. State Street Corp raised its stake in AtriCure by 11.2% in the fourth quarter. State Street Corp now owns 555,334 shares of the medical device company’s stock worth $10,872,000 after buying an additional 55,938 shares in the last quarter. Two Sigma Investments LP raised its stake in AtriCure by 118.3% in the fourth quarter. Two Sigma Investments LP now owns 26,343 shares of the medical device company’s stock worth $516,000 after buying an additional 14,278 shares in the last quarter. Teachers Advisors LLC raised its stake in AtriCure by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 71,668 shares of the medical device company’s stock worth $1,403,000 after buying an additional 1,520 shares during the period. Peregrine Capital Management LLC raised its stake in AtriCure by 10.2% in the first quarter. Peregrine Capital Management LLC now owns 994,591 shares of the medical device company’s stock worth $18,808,000 after buying an additional 92,071 shares during the period. Finally, Bank of Montreal Can raised its stake 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 worth $200,000 after buying an additional 128 shares during the period. 86.06% of the stock is owned by institutional investors.

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.

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