BTIG Research Reiterates “Buy” Rating for AtriCure (NASDAQ:ATRC)

BTIG Research restated their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research report sent to investors on Tuesday morning, AnalystRatings.com reports. They currently have a $35.00 price target on the medical device company’s stock.

Several other research firms also recently commented on ATRC. Northland Securities downgraded shares of AtriCure from an outperform rating to a market perform rating and set a $30.00 target price for the company. in a research report on Tuesday. ValuEngine downgraded shares of AtriCure from a strong-buy rating to a buy rating in a research report on Wednesday, June 19th. Zacks Investment Research downgraded shares of AtriCure from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Finally, BidaskClub raised shares of AtriCure from a buy rating to a strong-buy rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $36.57.

ATRC stock opened at $27.32 on Tuesday. 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 company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -29.06 and a beta of 0.24. AtriCure has a 12 month low of $26.11 and a 12 month high of $36.49. The firm has a 50 day moving average of $30.99 and a two-hundred day moving average of $29.97.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. The company had revenue of $58.90 million during the quarter, compared to the consensus estimate of $57.76 million. AtriCure had a negative net margin of 9.46% and a negative return on equity of 13.06%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) earnings per share. On average, research analysts expect that AtriCure will post -0.9 EPS for the current fiscal year.

In related news, CEO Michael H. Carrel sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $32.00, for a total transaction of $800,000.00. Following the completion of the sale, the chief executive officer now directly owns 661,103 shares of the company’s stock, valued at approximately $21,155,296. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Justin J. Noznesky sold 10,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the senior vice president now directly owns 94,068 shares of the company’s stock, valued at $2,822,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,158 shares of company stock valued at $1,169,102. 8.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. boosted its holdings 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 buying an additional 510 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings 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 buying an additional 853 shares during the period. Quantamental Technologies LLC bought a new stake in shares of AtriCure during the 1st quarter worth $82,000. Captrust Financial Advisors bought a new stake in shares of AtriCure during the 2nd quarter worth $134,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of AtriCure by 100.8% during 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 period. 89.99% of the stock is 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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