AtriCure (NASDAQ:ATRC) Raised to “Strong-Buy” at Wall Street Zen
by Renee Jackson · The Cerbat GemAtriCure (NASDAQ:ATRC – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.
A number of other equities analysts have also recently issued reports on ATRC. JPMorgan Chase & Co. cut AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Wednesday, February 11th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of AtriCure in a report on Thursday, February 12th. Citigroup reiterated an “outperform” rating on shares of AtriCure in a research report on Wednesday, February 18th. Freedom Capital upgraded AtriCure to a “strong-buy” rating in a research report on Wednesday, April 1st. Finally, BTIG Research reiterated a “buy” rating and set a $54.00 target price on shares of AtriCure in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.43.
Read Our Latest Report on ATRC
AtriCure Stock Performance
NASDAQ ATRC opened at $29.19 on Friday. The company has a market cap of $1.45 billion, a P/E ratio of -121.63 and a beta of 1.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96. The business’s 50 day moving average price is $31.92 and its 200-day moving average price is $35.34. AtriCure has a fifty-two week low of $27.31 and a fifty-two week high of $43.18.
AtriCure (NASDAQ:ATRC – Get Free Report) last released its earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. The firm had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.50 million. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) EPS. Sell-side analysts predict that AtriCure will post -0.6 earnings per share for the current year.
Insider Buying and Selling at AtriCure
In other news, insider Vinayak Doraiswamy sold 5,000 shares of AtriCure stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the sale, the insider directly owned 96,875 shares in the company, valued at approximately $2,889,781.25. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.50% of the company’s stock.
Hedge Funds Weigh In On AtriCure
A number of hedge funds and other institutional investors have recently made changes to their positions in ATRC. AQR Capital Management LLC grew its position in shares of AtriCure by 1.0% during the 1st quarter. AQR Capital Management LLC now owns 83,685 shares of the medical device company’s stock worth $2,700,000 after buying an additional 837 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AtriCure by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,146 shares of the medical device company’s stock worth $908,000 after buying an additional 1,230 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of AtriCure by 1.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 862,668 shares of the medical device company’s stock worth $27,830,000 after buying an additional 8,956 shares in the last quarter. Jane Street Group LLC grew its position in shares of AtriCure by 658.3% during the 1st quarter. Jane Street Group LLC now owns 100,853 shares of the medical device company’s stock worth $3,254,000 after buying an additional 87,553 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of AtriCure during the 1st quarter worth $158,000. Institutional investors own 99.11% of the company’s stock.
AtriCure Company Profile
AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.
The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.