AtriCure (NASDAQ:ATRC) Cut to Hold at BidaskClub

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

Other analysts have also issued research reports about the company. Needham & Company LLC set a $39.00 target price on AtriCure and gave the stock a buy rating in a report on Monday, August 12th. Northland Securities lowered AtriCure from an outperform rating to a market perform rating and set a $30.00 target price for the company. in a report on Tuesday, August 13th. Zacks Investment Research lowered AtriCure from a buy rating to a hold rating in a report on Tuesday, July 23rd. BTIG Research reissued a buy rating and issued a $35.00 target price on shares of AtriCure in a report on Tuesday, August 13th. Finally, Piper Jaffray Companies set a $40.00 target price on AtriCure and gave the stock a buy rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. AtriCure currently has an average rating of Buy and an average price target of $36.57.

ATRC stock opened at $26.42 on Thursday. AtriCure has a twelve month low of $26.11 and a twelve month high of $36.49. The company has a quick ratio of 3.10, a current ratio of 3.72 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $30.52 and a 200 day moving average of $29.85.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.01. The company had revenue of $58.90 million during the quarter, compared to analyst estimates of $57.76 million. AtriCure had a negative return on equity of 13.06% and a negative net margin of 9.46%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) EPS. As a group, sell-side analysts expect that AtriCure will post -0.9 EPS for the current fiscal year.

In other news, CEO Michael H. Carrel sold 1,454 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.00, for a total value of $47,982.00. Following the transaction, the chief executive officer now directly owns 637,557 shares in the company, valued at approximately $21,039,381. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael H. Carrel sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $32.00, for a total value of $800,000.00. Following the completion of the transaction, the chief executive officer now owns 661,103 shares in the company, valued at $21,155,296. The disclosure for this sale can be found here. In the last three months, insiders sold 37,158 shares of company stock valued at $1,169,102. Corporate insiders own 8.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of AtriCure by 109.7% in the 2nd quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock worth $29,000 after buying an additional 510 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of AtriCure by 114.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,597 shares of the medical device company’s stock worth $48,000 after buying an additional 853 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of AtriCure in the 1st quarter worth $82,000. Captrust Financial Advisors purchased a new position in shares of AtriCure in the 2nd quarter worth $134,000. Finally, Acadian Asset Management LLC boosted its stake in shares of AtriCure by 100.8% in the 2nd quarter. Acadian Asset Management LLC now owns 4,623 shares of the medical device company’s stock worth $138,000 after buying an additional 2,321 shares during the last quarter. Hedge funds and other institutional investors own 91.65% of the company’s stock.

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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