Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) Target Price at $55.57

AtriCure, Inc. (NASDAQ:ATRC) has earned an average rating of “Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $55.57.

A number of equities analysts have weighed in on ATRC shares. Stifel Nicolaus dropped their target price on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 16th. StockNews.com downgraded shares of AtriCure from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of AtriCure in a research note on Wednesday, April 10th. Finally, UBS Group boosted their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, February 16th.

AtriCure Price Performance

NASDAQ:ATRC opened at $22.90 on Tuesday. The firm has a market cap of $1.11 billion, a PE ratio of -34.70 and a beta of 1.38. AtriCure has a 12 month low of $22.48 and a 12 month high of $59.61. The company has a quick ratio of 2.66, a current ratio of 3.57 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $31.80 and its two-hundred day moving average price is $34.87.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, equities analysts anticipate that AtriCure will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Karl S. Dahlquist sold 8,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. In related news, insider Karl S. Dahlquist sold 8,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the transaction, the insider now owns 52,839 shares in the company, valued at $1,974,065.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Karl S. Dahlquist sold 1,885 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $32.16, for a total transaction of $60,621.60. Following the transaction, the insider now owns 50,954 shares of the company’s stock, valued at approximately $1,638,680.64. The disclosure for this sale can be found here. Insiders sold a total of 13,116 shares of company stock valued at $468,797 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. RiverPark Advisors LLC acquired a new position in shares of AtriCure in the third quarter valued at approximately $27,000. Arcadia Investment Management Corp MI acquired a new position in shares of AtriCure in the third quarter valued at approximately $28,000. Virtus Fund Advisers LLC acquired a new position in shares of AtriCure in the fourth quarter valued at approximately $27,000. State of Wyoming boosted its holdings in shares of AtriCure by 34.6% in the second quarter. State of Wyoming now owns 1,030 shares of the medical device company’s stock valued at $51,000 after buying an additional 265 shares during the period. Finally, Almanack Investment Partners LLC. acquired a new position in shares of AtriCure in the third quarter valued at approximately $43,000. Institutional investors and hedge funds 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.