AtriCure (NASDAQ:ATRC) Raised to Outperform at Oppenheimer

Oppenheimer upgraded shares of AtriCure (NASDAQ:ATRC) from a market perform rating to an outperform rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $32.00 price objective on the medical device company’s stock.

Several other brokerages have also issued reports on ATRC. Stifel Nicolaus lowered their price target on shares of AtriCure from $50.00 to $42.00 and set a buy rating on the stock in a research note on Friday, February 16th. UBS Group boosted their price objective on shares of AtriCure from $57.00 to $58.00 and gave the stock a buy rating in a research note on Friday, February 16th. StockNews.com lowered shares of AtriCure from a hold rating to a sell rating in a research note on Wednesday, March 27th. Finally, Needham & Company LLC restated a buy rating and set a $46.00 price objective on shares of AtriCure in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, AtriCure currently has a consensus rating of Moderate Buy and a consensus price target of $52.63.

AtriCure Trading Down 1.9 %

ATRC opened at $22.61 on Tuesday. The stock has a market capitalization of $1.09 billion, a P/E ratio of -34.26 and a beta of 1.38. AtriCure has a 12 month low of $22.07 and a 12 month high of $59.61. The firm’s fifty day simple moving average is $30.02 and its 200 day simple moving average is $33.77. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Thursday, February 15th. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.01. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. During the same period in the previous year, the business earned ($0.09) EPS. The company’s revenue was up 21.0% compared to the same quarter last year. As a group, research analysts anticipate that AtriCure will post -0.71 EPS for the current fiscal year.

Insider Activity at AtriCure

In related news, insider Karl S. Dahlquist sold 8,231 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the transaction, the insider now owns 52,839 shares in the company, valued at approximately $1,974,065.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other AtriCure news, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $36.72, for a total value of $55,080.00. Following the completion of the sale, the insider now owns 74,284 shares of the company’s stock, valued at approximately $2,727,708.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl S. Dahlquist sold 8,231 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the sale, the insider now directly owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,116 shares of company stock worth $468,797. Insiders own 3.20% of the company’s stock.

Institutional Trading of AtriCure

Institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC bought a new stake in AtriCure in the 3rd quarter valued at about $27,000. Arcadia Investment Management Corp MI bought a new stake in shares of AtriCure during the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of AtriCure by 31.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock worth $91,000 after acquiring an additional 497 shares during the period. HighMark Wealth Management LLC lifted its holdings in shares of AtriCure by 175.6% during the 3rd quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company’s stock worth $124,000 after acquiring an additional 1,800 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of AtriCure during the 4th quarter worth approximately $103,000. Institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.