AtriCure, Inc. (NASDAQ:ATRC) Stock Has Average Price Target of $54.10 According to Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has been assigned an average recommendation of “Hold” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $55.70.

Several equities analysts have recently commented on ATRC shares. Piper Sandler boosted their target price on shares of AtriCure from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Citigroup reiterated a “market outperform” rating on shares of AtriCure in a research report on Wednesday. Zacks Research lowered shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Needham & Company LLC lifted their price objective on shares of AtriCure from $45.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Finally, UBS Group downgraded shares of AtriCure from a “buy” rating to a “sell” rating in a research report on Wednesday.

AtriCure Stock Down 0.6%

ATRC stock opened at $58.97 on Wednesday. The company has a market cap of $3.00 billion, a PE ratio of 257.83 and a beta of 1.24. The business has a 50-day simple moving average of $54.17 and a 200 day simple moving average of $39.24. AtriCure has a 52 week low of $25.36 and a 52 week high of $61.70. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Thursday, July 23rd. The medical device company reported $0.18 earnings per share for the quarter. The business had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $151.80 million. AtriCure had a net margin of 1.85% and a return on equity of 2.34%. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Sell-side analysts anticipate that AtriCure will post 0.29 EPS for the current fiscal year.

Insider Transactions at AtriCure

In other news, insider Salvatore Privitera sold 4,519 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $60.00, for a total transaction of $271,140.00. Following the completion of the transaction, the insider owned 142,745 shares of the company’s stock, valued at approximately $8,564,700. The trade was a 3.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karl S. Dahlquist sold 9,370 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $48.89, for a total value of $458,099.30. Following the sale, the insider owned 87,319 shares of the company’s stock, valued at approximately $4,269,025.91. This represents a 9.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 74,868 shares of company stock worth $3,317,897. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ATRC. Harbor Investment Advisory LLC acquired a new stake in shares of AtriCure in the 2nd quarter valued at approximately $40,000. Allworth Financial LP bought a new stake in shares of AtriCure during the 2nd quarter valued at approximately $43,000. Integrated Wealth Concepts LLC bought a new stake in shares of AtriCure during the 2nd quarter valued at approximately $46,000. Sterling Capital Management LLC increased its position in AtriCure by 841.1% during the 3rd quarter. Sterling Capital Management LLC now owns 1,647 shares of the medical device company’s stock worth $93,000 after purchasing an additional 1,472 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in AtriCure during the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.