AtriCure Inc. (ATRC) Receives Consensus Recommendation of “Hold” from Analysts

AtriCure Inc. (NASDAQ:ATRC) has been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $24.33.

Several research analysts have recently issued reports on the stock. Needham & Company LLC dropped their price objective on shares of AtriCure from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday. Zacks Investment Research upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Canaccord Genuity restated a “buy” rating and set a $28.00 price objective on shares of AtriCure in a report on Monday, October 9th. TheStreet downgraded shares of AtriCure from a “c-” rating to a “d+” rating in a report on Wednesday, November 29th. Finally, ValuEngine cut shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th.

AtriCure (ATRC) opened at $17.73 on Tuesday. AtriCure has a twelve month low of $14.78 and a twelve month high of $25.18. The company has a current ratio of 2.28, a quick ratio of 1.65 and a debt-to-equity ratio of 0.20. The stock has a market cap of $611.23, a PE ratio of -17.38 and a beta of 0.66.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.02. AtriCure had a negative net margin of 17.19% and a negative return on equity of 18.14%. The company had revenue of $42.20 million for the quarter, compared to the consensus estimate of $43.44 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The business’s revenue was up 10.1% compared to the same quarter last year. equities research analysts forecast that AtriCure will post -0.96 earnings per share for the current year.

In related news, CFO M. Andrew Wade sold 2,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $18.41, for a total value of $36,820.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director B Kristine Johnson bought 1,500 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average cost of $18.36 per share, for a total transaction of $27,540.00. Following the purchase, the director now owns 10,969 shares of the company’s stock, valued at $201,390.84. The disclosure for this purchase can be found here. Insiders own 11.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC bought a new stake in AtriCure in the third quarter valued at about $205,000. Legal & General Group Plc boosted its position in AtriCure by 3.8% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock valued at $208,000 after buying an additional 312 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in AtriCure in the second quarter valued at about $253,000. UBS Asset Management Americas Inc. acquired a new position in AtriCure in the second quarter valued at about $315,000. Finally, Voya Investment Management LLC boosted its position in AtriCure by 7.9% in the second quarter. Voya Investment Management LLC now owns 17,158 shares of the medical device company’s stock valued at $416,000 after buying an additional 1,250 shares in the last quarter. 86.17% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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