AtriCure (ATRC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of AtriCure (NASDAQ:ATRC) in a report issued on Tuesday morning. The firm currently has a $23.00 target price on the medical device company’s stock, down from their prior target price of $25.00.

Several other brokerages have also recently issued reports on ATRC. Canaccord Genuity reissued a buy rating and issued a $28.00 price objective on shares of AtriCure in a research note on Monday, October 9th. Zacks Investment Research raised AtriCure from a sell rating to a hold rating in a research note on Monday, October 2nd. TheStreet cut AtriCure from a c- rating to a d+ rating in a research note on Wednesday, November 29th. Piper Jaffray Companies reissued a buy rating and issued a $24.00 price objective on shares of AtriCure in a research note on Sunday, December 10th. Finally, ValuEngine cut AtriCure from a hold rating to a sell rating in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. AtriCure presently has a consensus rating of Hold and a consensus price target of $24.33.

Shares of AtriCure (NASDAQ ATRC) remained flat at $$17.71 during trading hours on Tuesday. The company had a trading volume of 179,801 shares, compared to its average volume of 205,545. AtriCure has a 1 year low of $14.78 and a 1 year high of $25.18. The company has a market cap of $608.47, a P/E ratio of -17.36 and a beta of 0.66. The company has a quick ratio of 1.65, a current ratio of 2.28 and a debt-to-equity ratio of 0.20.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.02. AtriCure had a negative return on equity of 20.28% and a negative net margin of 19.40%. The company had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $43.44 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. AtriCure’s revenue was up 10.1% compared to the same quarter last year. research analysts predict that AtriCure will post -0.96 EPS for the current fiscal year.

In other AtriCure news, CFO M. Andrew Wade sold 2,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $18.41, for a total transaction of $36,820.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director B Kristine Johnson bought 1,500 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were bought at an average cost of $18.36 per share, for a total transaction of $27,540.00. Following the transaction, the director now directly owns 10,969 shares in the company, valued at approximately $201,390.84. The disclosure for this purchase can be found here. 11.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ATRC. Citadel Advisors LLC boosted its position in AtriCure by 1,193.9% during the 3rd quarter. Citadel Advisors LLC now owns 334,565 shares of the medical device company’s stock valued at $7,484,000 after acquiring an additional 308,708 shares in the last quarter. Cortina Asset Management LLC boosted its position in AtriCure by 101.4% during the 3rd quarter. Cortina Asset Management LLC now owns 440,072 shares of the medical device company’s stock valued at $9,844,000 after acquiring an additional 221,605 shares in the last quarter. FMR LLC boosted its position in AtriCure by 2.4% during the 2nd quarter. FMR LLC now owns 5,068,247 shares of the medical device company’s stock valued at $122,905,000 after acquiring an additional 118,247 shares in the last quarter. Neuberger Berman Group LLC boosted its position in AtriCure by 9.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 900,296 shares of the medical device company’s stock valued at $20,140,000 after acquiring an additional 75,827 shares in the last quarter. Finally, Skylands Capital LLC bought a new stake in AtriCure during the 4th quarter valued at $1,368,000. 86.17% of the stock is currently owned by institutional investors and hedge funds.

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AtriCure Company Profile

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.

Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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