AtriCure, Inc. (NASDAQ:ATRC) Given Consensus Rating of “Moderate Buy” by Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $48.7143.

Several research firms recently issued reports on ATRC. Freedom Capital raised shares of AtriCure to a “strong-buy” rating in a research note on Wednesday, April 1st. Weiss Ratings downgraded shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded shares of AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Canaccord Genuity Group lifted their price target on shares of AtriCure from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded shares of AtriCure from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th.

AtriCure Stock Performance

Shares of ATRC stock opened at $28.44 on Thursday. The company’s fifty day simple moving average is $28.01 and its 200-day simple moving average is $32.69. AtriCure has a 52 week low of $25.36 and a 52 week high of $43.18. The company has a current ratio of 4.29, a quick ratio of 3.18 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.44 billion, a PE ratio of -284.40 and a beta of 1.26.

Insider Transactions at AtriCure

In related news, Director Karen Prange sold 3,000 shares of AtriCure stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the sale, the director owned 26,373 shares of the company’s stock, valued at $755,586.45. The trade was a 10.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On AtriCure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd increased its stake in AtriCure by 197.1% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after buying an additional 538 shares during the period. Geneos Wealth Management Inc. acquired a new position in AtriCure during the 2nd quarter worth $37,000. Smartleaf Asset Management LLC grew its holdings in AtriCure by 59.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock worth $46,000 after acquiring an additional 429 shares in the last quarter. Fifth Third Bancorp acquired a new position in AtriCure during the 1st quarter worth $51,000. Finally, Global Retirement Partners LLC acquired a new position in AtriCure during the 4th quarter worth $73,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

About AtriCure

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.