Brokerages Set AtriCure, Inc. (NASDAQ:ATRC) Price Target at $52.44

AtriCure, Inc. (NASDAQ:ATRC) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $52.4444.

A number of research firms recently weighed in on ATRC. Citigroup reissued a “market outperform” rating on shares of AtriCure in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AtriCure in a research report on Wednesday. Zacks Research upgraded AtriCure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Canaccord Genuity Group lifted their price objective on AtriCure from $53.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on AtriCure from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th.

Insider Buying and Selling

In other AtriCure news, insider Justin J. Noznesky sold 5,166 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $37.29, for a total value of $192,640.14. Following the sale, the insider directly owned 78,798 shares in the company, valued at approximately $2,938,377.42. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Maggie Yuen sold 3,000 shares of AtriCure stock in a transaction on Friday, November 21st. The stock was sold at an average price of $35.72, for a total transaction of $107,160.00. Following the transaction, the director directly owned 11,371 shares in the company, valued at approximately $406,172.12. This represents a 20.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,166 shares of company stock valued at $676,378 in the last 90 days. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATRC. Aster Capital Management DIFC Ltd raised its stake in shares of AtriCure by 197.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 538 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of AtriCure by 1,818.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,132 shares of the medical device company’s stock valued at $40,000 after purchasing an additional 1,073 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of AtriCure in the second quarter valued at approximately $37,000. First Horizon Corp acquired a new position in shares of AtriCure in the third quarter valued at $42,000. Finally, CWM LLC grew its stake in AtriCure by 36.6% in the 3rd quarter. CWM LLC now owns 2,587 shares of the medical device company’s stock valued at $91,000 after buying an additional 693 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors.

AtriCure Trading Down 2.4%

Shares of ATRC opened at $39.07 on Monday. The stock’s fifty day simple moving average is $38.92 and its 200-day simple moving average is $36.20. The firm has a market capitalization of $1.94 billion, a PE ratio of -64.05 and a beta of 1.40. AtriCure has a 12-month low of $28.29 and a 12-month high of $43.18. The company has a quick ratio of 2.85, a current ratio of 3.87 and a debt-to-equity ratio of 0.15.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Wednesday, October 29th. The medical device company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.10. AtriCure had a negative return on equity of 2.54% and a negative net margin of 5.55%.The firm had revenue of $134.27 million during the quarter, compared to analysts’ expectations of $131.25 million. During the same period in the previous year, the business posted ($0.17) EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. AtriCure has set its FY 2025 guidance at -0.260–0.230 EPS. As a group, research analysts predict that AtriCure will post -0.6 earnings per share for the current year.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.