AtriCure (NASDAQ:ATRC) Upgraded at Oppenheimer

AtriCure (NASDAQ:ATRC) was upgraded by Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $32.00 target price on the medical device company’s stock. Oppenheimer’s price target indicates a potential upside of 40.91% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ATRC. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 target price on shares of AtriCure in a report on Wednesday, April 10th. Stifel Nicolaus dropped their price target on shares of AtriCure from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. UBS Group boosted their target price on AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, StockNews.com downgraded AtriCure from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, AtriCure currently has a consensus rating of “Moderate Buy” and an average price target of $52.63.

AtriCure Stock Down 2.1 %

Shares of NASDAQ ATRC opened at $22.71 on Tuesday. 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 firm has a market cap of $1.10 billion, a PE ratio of -34.41 and a beta of 1.38. The company’s fifty day simple moving average is $30.61 and its 200 day simple moving average is $34.05. AtriCure has a 12-month low of $22.27 and a 12-month high of $59.61.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The company had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $103.68 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The business’s revenue was up 21.0% on a year-over-year basis. As a group, sell-side analysts forecast that AtriCure will post -0.71 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $36.72, for a total value of $55,080.00. Following the sale, the insider now directly owns 74,284 shares in the company, valued at approximately $2,727,708.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl S. Dahlquist sold 1,885 shares of the stock in a transaction dated Monday, March 18th. The stock was 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. Over the last quarter, insiders have sold 13,116 shares of company stock worth $468,797. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Large investors have recently made changes to their positions in the stock. RiverPark Advisors LLC purchased a new stake in AtriCure during the 3rd quarter worth about $27,000. Arcadia Investment Management Corp MI purchased a new stake in shares of AtriCure in the third quarter worth about $28,000. Allspring Global Investments Holdings LLC boosted its position in shares of AtriCure by 31.5% in the third 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 purchased a new position in AtriCure during the fourth quarter valued at approximately $103,000. Finally, HighMark Wealth Management LLC increased its holdings in AtriCure by 175.6% during the 3rd quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company’s stock worth $124,000 after acquiring an additional 1,800 shares during the period. 99.11% of the stock is owned by institutional investors.

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.