AtriCure, Inc. (NASDAQ:ATRC) Receives $48.71 Average PT from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $48.7143.

A number of research firms have recently weighed in on ATRC. Zacks Research raised shares of AtriCure from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group upped 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. UBS Group dropped their price target on shares of AtriCure from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Weiss Ratings downgraded shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Citigroup reaffirmed an “outperform” rating on shares of AtriCure in a research note on Wednesday, February 18th.

AtriCure Stock Performance

ATRC stock opened at $28.09 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.18 and a current ratio of 4.29. The stock has a market cap of $1.42 billion, a P/E ratio of -280.90 and a beta of 1.28. The firm has a 50 day simple moving average of $28.49 and a 200 day simple moving average of $33.52. AtriCure has a 52 week low of $25.52 and a 52 week high of $43.18.

Insiders Place Their Bets

In other news, Director Karen Prange sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total value of $85,950.00. Following the transaction, the director directly owned 26,373 shares of the company’s stock, valued at approximately $755,586.45. This represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vinayak Doraiswamy sold 5,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total transaction of $149,150.00. Following the completion of the transaction, the insider directly owned 96,875 shares in the company, valued at $2,889,781.25. This trade represents a 4.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Several hedge funds have recently bought and sold shares of ATRC. Oak Harvest Investment Services bought a new position in shares of AtriCure in the fourth quarter valued at approximately $1,484,000. Massachusetts Financial Services Co. MA raised its position in shares of AtriCure by 20.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 511,213 shares of the medical device company’s stock valued at $20,224,000 after purchasing an additional 86,532 shares during the period. Riverwater Partners LLC raised its position in shares of AtriCure by 79.2% in the third quarter. Riverwater Partners LLC now owns 60,322 shares of the medical device company’s stock valued at $2,126,000 after purchasing an additional 26,657 shares during the period. Citigroup Inc. raised its position in shares of AtriCure by 182.0% in the third quarter. Citigroup Inc. now owns 57,085 shares of the medical device company’s stock valued at $2,012,000 after purchasing an additional 36,839 shares during the period. Finally, Semanteon Capital Management LP bought a new position in shares of AtriCure in the third quarter valued at approximately $564,000. 99.11% of the stock is owned by institutional investors and hedge funds.

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.