AtriCure, Inc. (NASDAQ:ATRC) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
A number of other analysts have also recently weighed in on ATRC. Stifel Nicolaus restated a “buy” rating and issued a $25.00 price target on shares of AtriCure in a report on Sunday, July 30th. Needham & Company LLC restated a “buy” rating and issued a $26.00 price target (up from $25.00) on shares of AtriCure in a report on Friday, July 28th. BidaskClub cut shares of AtriCure from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Canaccord Genuity lowered their price target on shares of AtriCure from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. AtriCure currently has a consensus rating of “Hold” and a consensus price target of $25.00.
AtriCure (NASDAQ:ATRC) opened at $18.17 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.28 and a quick ratio of 1.65. AtriCure has a 12 month low of $14.78 and a 12 month high of $25.18.
AtriCure (NASDAQ:ATRC) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $42.20 million for the quarter, compared to the consensus estimate of $43.44 million. AtriCure had a negative net margin of 19.40% and a negative return on equity of 20.28%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS. analysts forecast that AtriCure will post -0.96 EPS for the current year.
In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of AtriCure stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total transaction of $224,000.00. Following the sale, the director now owns 29,967 shares of the company’s stock, valued at approximately $671,260.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director B Kristine Johnson bought 1,500 shares of the stock in a transaction on Wednesday, November 8th. The shares were acquired at an average cost of $18.36 per share, for a total transaction of $27,540.00. Following the purchase, the director now owns 10,969 shares in the company, valued at $201,390.84. The disclosure for this purchase can be found here. Insiders own 10.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. US Bancorp DE boosted its position in shares of AtriCure by 152.1% during the 2nd quarter. US Bancorp DE now owns 4,202 shares of the medical device company’s stock valued at $102,000 after acquiring an additional 2,535 shares during the last quarter. Sei Investments Co. boosted its position in shares of AtriCure by 75.5% during the 2nd quarter. Sei Investments Co. now owns 6,933 shares of the medical device company’s stock valued at $168,000 after acquiring an additional 2,983 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of AtriCure during the 3rd quarter valued at about $205,000. Legal & General Group Plc boosted its position in shares of AtriCure by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock valued at $208,000 after acquiring an additional 312 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of AtriCure during the 2nd quarter valued at about $253,000. 81.11% of the stock is currently owned by hedge funds and other institutional investors.
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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