BidaskClub cut shares of AtriCure, Inc. (NASDAQ:ATRC) from a strong-buy rating to a buy rating in a report published on Monday.
A number of other brokerages have also weighed in on ATRC. Canaccord Genuity reaffirmed a buy rating and set a $22.00 price objective on shares of AtriCure in a report on Monday, April 17th. Needham & Company LLC reaffirmed a buy rating and set a $25.00 price objective (up previously from $23.00) on shares of AtriCure in a report on Friday, May 5th. Zacks Investment Research raised AtriCure from a hold rating to a buy rating and set a $26.00 price objective on the stock in a report on Tuesday, May 9th. TheStreet raised AtriCure from a d+ rating to a c- rating in a report on Monday, May 15th. Finally, Piper Jaffray Companies reaffirmed an overweight rating and set a $26.00 price objective on shares of AtriCure in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $22.60.
Shares of AtriCure (NASDAQ:ATRC) traded down 0.38% during trading on Monday, reaching $23.49. 118,292 shares of the company traded hands. The stock’s 50 day moving average is $23.27 and its 200 day moving average is $19.94. The company’s market capitalization is $797.39 million. AtriCure has a 1-year low of $13.45 and a 1-year high of $25.11.
AtriCure (NASDAQ:ATRC) last released its earnings results on Thursday, May 4th. The medical device company reported ($0.32) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.01. The business had revenue of $41.30 million for the quarter, compared to analyst estimates of $40.25 million. AtriCure had a negative return on equity of 19.89% and a negative net margin of 21.07%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) earnings per share. On average, analysts forecast that AtriCure will post ($0.96) EPS for the current year.
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In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $21.44, for a total value of $214,400.00. Following the sale, the director now owns 24,162 shares of the company’s stock, valued at $518,033.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ATRC. Wells Fargo & Company MN raised its stake in AtriCure by 131.9% in the first quarter. Wells Fargo & Company MN now owns 112,006 shares of the medical device company’s stock valued at $2,145,000 after buying an additional 63,711 shares during the period. Bank of Montreal Can raised its stake in AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock valued at $200,000 after buying an additional 128 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in AtriCure during the first quarter valued at $329,000. State Street Corp raised its stake in AtriCure by 11.2% in the fourth quarter. State Street Corp now owns 555,334 shares of the medical device company’s stock valued at $10,872,000 after buying an additional 55,938 shares during the period. Finally, Keybank National Association OH raised its stake in AtriCure by 5.1% in the first quarter. Keybank National Association OH now owns 38,902 shares of the medical device company’s stock valued at $745,000 after buying an additional 1,905 shares during the period. 86.46% of the stock is currently owned by institutional investors.
About AtriCure
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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