AtriCure (NASDAQ:ATRC) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of AtriCure (NASDAQ:ATRC) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Several other research analysts have also issued reports on the company. Oppenheimer lowered AtriCure from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of AtriCure in a report on Thursday, February 12th. Freedom Capital upgraded AtriCure to a “strong-buy” rating in a report on Wednesday, April 1st. Weiss Ratings lowered AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, BTIG Research restated a “buy” rating and issued a $54.00 target price on shares of AtriCure in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.71.

AtriCure Stock Down 0.6%

Shares of NASDAQ:ATRC opened at $27.10 on Thursday. The business’s 50 day simple moving average is $28.18 and its two-hundred day simple moving average is $33.27. The firm has a market cap of $1.37 billion, a P/E ratio of -271.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.18 and a current ratio of 4.29. AtriCure has a 52-week low of $25.36 and a 52-week high of $43.18.

Insider Buying and Selling

In other news, insider Vinayak Doraiswamy sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $29.83, for a total value of $149,150.00. Following the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Prange sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 26,373 shares in the company, valued at $755,586.45. This represents a 10.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.00% of the stock is owned by company insiders.

Institutional Trading of AtriCure

A number of institutional investors and hedge funds have recently modified their holdings of ATRC. Marshall Wace LLP increased its position in shares of AtriCure by 63.4% during the fourth quarter. Marshall Wace LLP now owns 913,453 shares of the medical device company’s stock valued at $36,136,000 after acquiring an additional 354,281 shares during the last quarter. Wellington Management Group LLP increased its position in shares of AtriCure by 8.1% during the third quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock valued at $151,296,000 after acquiring an additional 322,818 shares during the last quarter. First Light Asset Management LLC increased its position in shares of AtriCure by 32.0% during the fourth quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock valued at $46,501,000 after acquiring an additional 285,083 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of AtriCure during the first quarter valued at approximately $7,922,000. Finally, Kennedy Capital Management LLC increased its position in shares of AtriCure by 36.2% during the third quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock valued at $29,501,000 after acquiring an additional 222,529 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.