Research Analysts’ Recent Ratings Updates for AtriCure (ATRC)

AtriCure (NASDAQ: ATRC) has recently received a number of price target changes and ratings updates:

• 5/2/2024 – AtriCure had its price target lowered by analysts at JPMorgan Chase & Co. from $42.00 to $34.00. They now have an “overweight” rating on the stock.
• 5/2/2024 – AtriCure had its price target lowered by analysts at Canaccord Genuity Group Inc. from $57.00 to $49.00. They now have a “buy” rating on the stock.
• 5/2/2024 – AtriCure had its price target lowered by analysts at Needham & Company LLC from $46.00 to $40.00. They now have a “buy” rating on the stock.
• 4/23/2024 – AtriCure was upgraded by analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating. They now have a $32.00 price target on the stock.
• 4/10/2024 – AtriCure had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $46.00 price target on the stock.
• 3/27/2024 – AtriCure was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/19/2024 – AtriCure was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

AtriCure Stock Performance

Shares of NASDAQ ATRC opened at $21.87 on Wednesday. The company has a quick ratio of 2.83, a current ratio of 4.00 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $28.34 and its 200-day moving average price is $32.91. AtriCure, Inc. has a 52-week low of $20.19 and a 52-week high of $59.61. The company has a market cap of $1.04 billion, a PE ratio of -27.34 and a beta of 1.41.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $108.90 million during the quarter, compared to analysts’ expectations of $106.86 million. AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.23) EPS. As a group, analysts anticipate that AtriCure, Inc. will post -0.75 EPS for the current year.

Insider Transactions at AtriCure

In related news, insider Karl S. Dahlquist sold 8,231 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total value of $307,510.16. Following the transaction, the insider now directly owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the company’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 value of $307,510.16. Following the completion of the transaction, the insider now directly owns 52,839 shares in the company, valued at $1,974,065.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total transaction of $55,080.00. Following the completion of the sale, the insider now directly owns 74,284 shares of the company’s stock, valued at $2,727,708.48. The disclosure for this sale can be found here. Insiders have sold 14,616 shares of company stock worth $504,932 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Trading of AtriCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. State of New Jersey Common Pension Fund D lifted its stake in shares of AtriCure by 31.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 68,188 shares of the medical device company’s stock valued at $2,434,000 after purchasing an additional 16,168 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its position in AtriCure by 165.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 123,540 shares of the medical device company’s stock worth $4,409,000 after purchasing an additional 77,055 shares during the period. CenterBook Partners LP bought a new stake in AtriCure in the third quarter worth about $770,000. Decheng Capital Management III Cayman LLC purchased a new position in shares of AtriCure during the third quarter valued at approximately $2,026,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of AtriCure by 127.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 116,990 shares of the medical device company’s stock worth $5,124,000 after acquiring an additional 65,653 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

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.