BidaskClub Lowers AtriCure (NASDAQ:ATRC) to Buy

BidaskClub lowered shares of AtriCure (NASDAQ:ATRC) from a strong-buy rating to a buy rating in a research report released on Friday, BidAskClub reports.

ATRC has been the topic of a number of other research reports. ValuEngine raised AtriCure from a buy rating to a strong-buy rating in a report on Thursday, October 17th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of AtriCure in a report on Friday, September 6th. Finally, Zacks Investment Research raised AtriCure from a sell rating to a hold rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $36.00.

ATRC traded down $0.29 during trading on Friday, reaching $30.49. The company’s stock had a trading volume of 183,895 shares, compared to its average volume of 143,206. AtriCure has a 52-week low of $22.57 and a 52-week high of $33.92. The company’s fifty day moving average price is $28.85 and its 200-day moving average price is $28.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.11 and a quick ratio of 2.49.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Wednesday, October 30th. The medical device company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.03. AtriCure had a negative return on equity of 13.59% and a negative net margin of 10.13%. The company had revenue of $56.60 million for the quarter, compared to analyst estimates of $55.12 million. During the same quarter in the previous year, the company earned ($0.24) EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Research analysts anticipate that AtriCure will post -1.11 earnings per share for the current year.

In other news, COO Douglas J. Seith sold 48,804 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.63, for a total transaction of $1,250,846.52. Following the sale, the chief operating officer now owns 208,281 shares of the company’s stock, valued at approximately $5,338,242.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO M. Andrew Wade sold 11,705 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $30.00, for a total value of $351,150.00. Following the sale, the chief financial officer now directly owns 144,715 shares in the company, valued at approximately $4,341,450. The disclosure for this sale can be found here. 8.00% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC purchased a new stake in shares of AtriCure during the 3rd quarter worth approximately $25,000. Assetmark Inc. raised its position in shares of AtriCure by 109.7% during the 2nd quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock worth $29,000 after purchasing an additional 510 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of AtriCure by 114.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,597 shares of the medical device company’s stock worth $48,000 after purchasing an additional 853 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of AtriCure during the 3rd quarter worth approximately $74,000. Finally, Captrust Financial Advisors acquired a new position in shares of AtriCure during the 2nd quarter worth approximately $134,000. 89.22% of the stock is currently owned by institutional investors and hedge funds.

About AtriCure

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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