AtriCure, Inc. (NASDAQ:ATRC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $48.7143.

Several equities analysts have recently commented on ATRC shares. Canaccord Genuity Group boosted their target price on shares of AtriCure from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings cut AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Freedom Capital raised AtriCure to a “strong-buy” rating in a research report on Wednesday, April 1st. Zacks Research lowered AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of AtriCure from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd.

AtriCure Stock Down 1.9%

Shares of AtriCure stock opened at $34.95 on Monday. The business has a fifty day simple moving average of $29.35 and a 200 day simple moving average of $31.62. AtriCure has a 12 month low of $25.36 and a 12 month high of $43.18. The stock has a market cap of $1.77 billion, a PE ratio of -349.50 and a beta of 1.24. The company has a quick ratio of 3.18, a current ratio of 4.29 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling at AtriCure

In other AtriCure news, Director Karen Prange sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total value of $85,950.00. Following the transaction, the director directly owned 26,373 shares of the company’s stock, valued at $755,586.45. This trade represents a 10.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Trading of AtriCure

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new position in shares of AtriCure in the 2nd quarter valued at $37,000. Smartleaf Asset Management LLC increased its stake in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock valued at $46,000 after buying an additional 429 shares during the period. Harbor Investment Advisory LLC acquired a new stake in AtriCure during the second quarter valued at approximately $40,000. Fifth Third Bancorp acquired a new stake in AtriCure during the 1st quarter valued at $51,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of AtriCure during the 4th quarter valued at about $73,000. Institutional investors and hedge funds 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.