AtriCure (NASDAQ:ATRC) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of AtriCure (NASDAQ:ATRC) from a sell rating to a hold rating in a report issued on Monday.

Other research analysts also recently issued reports about the stock. Piper Sandler cut their price objective on shares of AtriCure from $65.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Canaccord Genuity Group decreased their price objective on AtriCure from $57.00 to $49.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. Oppenheimer raised AtriCure from a market perform rating to an outperform rating and set a $32.00 price objective on the stock in a report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their target price on AtriCure from $34.00 to $30.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Finally, Needham & Company LLC lowered their price target on shares of AtriCure from $40.00 to $34.00 and set a buy rating on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, AtriCure has a consensus rating of Moderate Buy and a consensus price target of $42.44.

AtriCure Stock Performance

NASDAQ:ATRC opened at $21.49 on Monday. AtriCure has a 1 year low of $18.94 and a 1 year high of $52.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.83. The business has a fifty day simple moving average of $22.50 and a two-hundred day simple moving average of $26.58. The company has a market capitalization of $1.02 billion, a P/E ratio of -26.86 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.17). The business had revenue of $116.27 million for the quarter, compared to analysts’ expectations of $116.24 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) EPS. On average, analysts expect that AtriCure will post -0.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Salvatore Privitera acquired 5,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $22.25 per share, for a total transaction of $111,250.00. Following the transaction, the insider now owns 103,290 shares in the company, valued at approximately $2,298,202.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ATRC. Comerica Bank lifted its stake in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after purchasing an additional 1,043 shares during the last quarter. Quest Partners LLC purchased a new position in shares of AtriCure during the 4th quarter valued at about $103,000. Virtu Financial LLC bought a new stake in AtriCure in the 4th quarter worth approximately $213,000. Victory Capital Management Inc. boosted its stake in AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after buying an additional 1,155 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new position in AtriCure during the first quarter valued at approximately $224,000. Institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.