AtriCure (NASDAQ:ATRC) Stock Rating Lowered by Wall Street Zen

AtriCure (NASDAQ:ATRC) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

ATRC has been the topic of a number of other reports. Needham & Company LLC reduced their price objective on shares of AtriCure from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Canaccord Genuity Group decreased their price target on AtriCure from $66.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Piper Sandler upped their price objective on AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. UBS Group reduced their target price on AtriCure from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus boosted their target price on shares of AtriCure from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

AtriCure Trading Down 1.6%

ATRC opened at $34.00 on Friday. The stock has a 50-day moving average of $32.30 and a 200 day moving average of $34.67. The company has a current ratio of 3.65, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13. AtriCure has a 12 month low of $18.94 and a 12 month high of $43.11. The firm has a market cap of $1.68 billion, a P/E ratio of -35.79 and a beta of 1.57.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, April 29th. The medical device company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. AtriCure had a negative return on equity of 6.80% and a negative net margin of 9.61%. The company had revenue of $123.62 million for the quarter, compared to analyst estimates of $122.92 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. AtriCure’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts forecast that AtriCure will post -0.6 EPS for the current year.

Insider Buying and Selling

In other AtriCure news, Director Karen Prange sold 6,100 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total value of $232,532.00. Following the completion of the sale, the director now directly owns 17,828 shares in the company, valued at approximately $679,603.36. This trade represents a 25.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vinayak Doraiswamy sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $33.44, for a total transaction of $83,600.00. Following the transaction, the insider now owns 73,550 shares in the company, valued at approximately $2,459,512. This trade represents a 3.29% decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of AtriCure

Several large investors have recently bought and sold shares of ATRC. Invesco Ltd. increased its holdings in shares of AtriCure by 0.8% in the fourth quarter. Invesco Ltd. now owns 43,647 shares of the medical device company’s stock valued at $1,334,000 after purchasing an additional 334 shares during the period. Perkins Capital Management Inc. boosted its position in AtriCure by 1.3% in the fourth quarter. Perkins Capital Management Inc. now owns 30,350 shares of the medical device company’s stock valued at $927,000 after buying an additional 400 shares during the last quarter. Truist Financial Corp increased its holdings in AtriCure by 2.6% in the 4th quarter. Truist Financial Corp now owns 15,717 shares of the medical device company’s stock worth $480,000 after buying an additional 403 shares during the period. State of Wyoming raised its position in AtriCure by 21.9% during the 4th quarter. State of Wyoming now owns 2,481 shares of the medical device company’s stock worth $76,000 after buying an additional 446 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in AtriCure by 5.4% during the 4th quarter. LPL Financial LLC now owns 11,465 shares of the medical device company’s stock valued at $350,000 after acquiring an additional 584 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

About AtriCure

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.