AtriCure (NASDAQ:ATRC – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
Several other research firms have also commented on ATRC. BTIG Research reissued a “buy” rating and set a $94.00 price target on shares of AtriCure in a research report on Monday, March 14th. Needham & Company LLC reduced their price target on AtriCure from $79.00 to $67.00 in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $94.50.
Shares of NASDAQ ATRC traded up $1.13 during midday trading on Friday, hitting $36.23. The stock had a trading volume of 485,919 shares, compared to its average volume of 267,740. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 32.35 and a beta of 1.21. AtriCure has a 1-year low of $32.83 and a 1-year high of $89.18. The company has a quick ratio of 3.35, a current ratio of 4.21 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $47.27 and a 200 day moving average price of $59.39.
AtriCure (NASDAQ:ATRC – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The medical device company reported ($0.33) earnings per share for the quarter, meeting the consensus estimate of ($0.33). The business had revenue of $74.58 million for the quarter, compared to analyst estimates of $71.17 million. AtriCure had a negative return on equity of 11.66% and a net margin of 17.93%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.32) EPS. On average, research analysts forecast that AtriCure will post -1.09 EPS for the current year.
In other AtriCure news, insider Tonya Austin sold 3,203 shares of AtriCure stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $42.69, for a total transaction of $136,736.07. Following the sale, the insider now directly owns 17,621 shares in the company, valued at approximately $752,240.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Midwest Wealth Management Inc. increased its holdings in shares of AtriCure by 4.2% in the 1st quarter. Midwest Wealth Management Inc. now owns 23,028 shares of the medical device company’s stock valued at $1,512,000 after acquiring an additional 919 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of AtriCure by 51.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 34,404 shares of the medical device company’s stock valued at $2,237,000 after acquiring an additional 11,703 shares during the last quarter. Polar Capital Holdings Plc increased its holdings in shares of AtriCure by 0.4% in the 1st quarter. Polar Capital Holdings Plc now owns 528,858 shares of the medical device company’s stock valued at $34,730,000 after acquiring an additional 2,100 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of AtriCure by 63.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 16,200 shares of the medical device company’s stock valued at $1,064,000 after acquiring an additional 6,310 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in AtriCure by 18.8% during the 1st quarter. Ensign Peak Advisors Inc now owns 3,470 shares of the medical device company’s stock valued at $228,000 after purchasing an additional 550 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.
AtriCure Company Profile (Get Rating)
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.