AtriCure (NASDAQ:ATRC) Price Target Raised to $63.00

AtriCure (NASDAQ:ATRC) had its price objective increased by BTIG Research from $55.00 to $63.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the medical device company’s stock.

Several other equities research analysts also recently issued reports on ATRC. Freedom Capital downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Stifel Nicolaus set a $65.00 price objective on AtriCure in a research note on Thursday, September 17th. UBS Group cut their price objective on AtriCure from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Weiss Ratings upgraded AtriCure from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Piper Sandler increased their target price on AtriCure from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.10.

AtriCure Price Performance

NASDAQ ATRC opened at $57.30 on Monday. AtriCure has a 1 year low of $25.36 and a 1 year high of $61.70. The company has a fifty day simple moving average of $52.05 and a 200 day simple moving average of $37.89. The company has a current ratio of 4.22, a quick ratio of 3.19 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.91 billion, a P/E ratio of 247.26 and a beta of 1.24.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Thursday, July 23rd. The medical device company reported $0.18 EPS for the quarter. The firm had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.80 million. AtriCure had a net margin of 1.85% and a return on equity of 2.34%. During the same quarter last year, the firm posted ($0.13) EPS. AtriCure has set its FY 2026 guidance at 0.240-0.320 EPS. On average, sell-side analysts predict that AtriCure will post 0.29 EPS for the current year.

Insider Buying and Selling at AtriCure

In related news, Director Sven Wehrwein sold 25,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $37.84, for a total transaction of $946,000.00. Following the completion of the transaction, the director directly owned 40,518 shares in the company, valued at $1,533,201.12. This represents a 38.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Salvatore Privitera sold 7,763 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $52.50, for a total transaction of $407,557.50. Following the transaction, the insider owned 150,921 shares of the company’s stock, valued at approximately $7,923,352.50. The trade was a 4.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,868 shares of company stock valued at $3,317,897 in the last three months. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of AtriCure in the second quarter valued at $125,198,000. Wellington Management Group LLP boosted its stake in AtriCure by 3.3% during the second quarter. Wellington Management Group LLP now owns 3,495,603 shares of the medical device company’s stock worth $97,807,000 after buying an additional 113,048 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in AtriCure by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 997,759 shares of the medical device company’s stock worth $28,466,000 after buying an additional 75,862 shares in the last quarter. Bank of America Corp DE acquired a new stake in AtriCure during the second quarter worth $24,465,000. Finally, Grandeur Peak Global Advisors LLC acquired a new stake in AtriCure during the second quarter worth $16,435,000. 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 developing and commercializing technologies for the treatment of atrial fibrillation (AF) and related cardiac conditions. Its products are used primarily in cardiac surgery and electrophysiology procedures to create surgical lesions that interrupt abnormal electrical signals in the heart.

The company’s portfolio includes the AtriCure Isolator Synergy ablation system, cryoablation products sold under the cryoICE brand, and the AtriClip system for the exclusion of the left atrial appendage, a potential source of blood clots in patients with AF.