Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) PT at $49.78

Shares of AtriCure, Inc. (NASDAQ:ATRC) have received an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $49.78.

A number of brokerages have issued reports on ATRC. Canaccord Genuity Group reduced their price target on AtriCure from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. 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. Needham & Company LLC decreased their price objective on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, UBS Group lifted their price target on AtriCure from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, February 16th.

Insiders Place Their Bets

In other news, insider Karl S. Dahlquist sold 8,231 shares of AtriCure 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 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 legal filing with the SEC, which is accessible through this hyperlink. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,727,708.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction dated 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 owns 52,839 shares in the company, valued at approximately $1,974,065.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,616 shares of company stock worth $504,932. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of AtriCure by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock valued at $170,100,000 after buying an additional 76,146 shares during the period. Wellington Management Group LLP raised its holdings in shares of AtriCure by 7.8% during the fourth quarter. Wellington Management Group LLP now owns 1,329,457 shares of the medical device company’s stock worth $47,448,000 after acquiring an additional 95,824 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in AtriCure by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,001,161 shares of the medical device company’s stock valued at $35,734,000 after purchasing an additional 9,176 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in AtriCure by 7.9% in the fourth quarter. TimesSquare Capital Management LLC now owns 976,110 shares of the medical device company’s stock valued at $34,837,000 after purchasing an additional 71,275 shares in the last quarter. Finally, Fiera Capital Corp increased its position in AtriCure by 28.2% in the 4th quarter. Fiera Capital Corp now owns 881,826 shares of the medical device company’s stock worth $31,472,000 after purchasing an additional 193,769 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

AtriCure Stock Performance

Shares of ATRC opened at $22.10 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 4.00. AtriCure has a 1 year low of $20.19 and a 1 year high of $59.61. The firm has a fifty day moving average of $28.59 and a 200-day moving average of $33.00. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -27.62 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) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $108.90 million during the quarter, compared to the consensus estimate of $106.86 million. AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. AtriCure’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.23) EPS. As a group, equities analysts anticipate that AtriCure will post -0.75 earnings per share for the current year.

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.