AtriCure (NASDAQ:ATRC) PT Lowered to $40.00

AtriCure (NASDAQ:ATRC) had its target price trimmed by Needham & Company LLC from $46.00 to $40.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the medical device company’s stock.

Several other brokerages also recently commented on ATRC. StockNews.com downgraded shares of AtriCure from a hold rating to a sell rating in a report on Wednesday, March 27th. UBS Group raised their price objective on shares of AtriCure from $57.00 to $58.00 and gave the stock a buy rating in a report on Friday, February 16th. Oppenheimer raised shares of AtriCure from a market perform rating to an outperform rating and set a $32.00 target price for the company in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus dropped their price target on AtriCure from $50.00 to $42.00 and set a buy rating on the stock in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $49.78.

AtriCure Trading Down 6.0 %

Shares of ATRC stock traded down $1.33 on Thursday, hitting $20.89. The stock had a trading volume of 961,862 shares, compared to its average volume of 881,737. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. AtriCure has a twelve month low of $20.19 and a twelve month high of $59.61. The company has a fifty day moving average price of $28.81 and a two-hundred day moving average price of $33.11. The firm has a market cap of $994.16 million, a P/E ratio of -26.11 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). AtriCure had a negative return on equity of 7.82% and a negative net margin of 8.98%. The business had revenue of $108.90 million for the quarter, compared to the consensus estimate of $106.86 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. The business’s revenue was up 16.5% on a year-over-year basis. As a group, analysts forecast that AtriCure will post -0.75 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In related news, insider Karl S. Dahlquist sold 8,231 shares of AtriCure stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Karl S. Dahlquist sold 8,231 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the completion of the transaction, the insider now directly owns 52,839 shares of the company’s stock, valued at $1,974,065.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karl S. Dahlquist sold 1,885 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total transaction of $60,621.60. Following the sale, the insider now directly owns 50,954 shares in the company, valued at $1,638,680.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,616 shares of company stock valued at $504,932. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Hedge funds and other institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC acquired a new stake in shares of AtriCure in the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in AtriCure by 31.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock valued at $91,000 after acquiring an additional 497 shares during the period. Quest Partners LLC acquired a new stake in AtriCure during the 4th quarter valued at $103,000. Virtu Financial LLC bought a new position in AtriCure during the fourth quarter worth $213,000. Finally, Victory Capital Management Inc. increased its holdings in shares of AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock valued at $221,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

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.