AtriCure, Inc. (NASDAQ:ATRC)‘s stock had its “outperform” rating reiterated by equities research analysts at Leerink Swann in a report issued on Friday. They currently have a $26.00 price target on the medical device company’s stock. Leerink Swann’s price objective suggests a potential upside of 14.59% from the stock’s current price.
A number of other research firms have also recently weighed in on ATRC. Zacks Investment Research upgraded shares of AtriCure from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, May 9th. TheStreet upgraded shares of AtriCure from a “d+” rating to a “c-” rating in a report on Monday, May 15th. ValuEngine upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Piper Jaffray Companies restated an “overweight” rating and issued a $26.00 price target on shares of AtriCure in a report on Tuesday, May 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price target (up from $23.00) on shares of AtriCure in a report on Friday, May 5th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.56.
AtriCure (NASDAQ:ATRC) opened at 22.69 on Friday. The company’s market cap is $770.23 million. The stock has a 50 day moving average of $21.53 and a 200 day moving average of $19.03. AtriCure has a 52 week low of $13.45 and a 52 week high of $23.95.
AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Thursday, May 4th. The medical device company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.01. AtriCure had a negative net margin of 21.07% and a negative return on equity of 19.89%. The business had revenue of $41.30 million for the quarter, compared to analysts’ expectations of $40.25 million. During the same period last year, the business earned ($0.31) EPS. The company’s revenue was up 15.0% compared to the same quarter last year. On average, analysts expect that AtriCure will post ($0.96) earnings per share for the current year.
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In related news, Director Elizabeth D. Krell sold 10,000 shares of AtriCure stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $21.44, for a total value of $214,400.00. Following the completion of the sale, the director now directly owns 24,162 shares in the company, valued at approximately $518,033.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in ATRC. Bank of Montreal Can boosted its stake in AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock worth $200,000 after buying an additional 128 shares during the period. Bayesian Capital Management LP bought a new stake in AtriCure during the fourth quarter worth approximately $204,000. Rockefeller Financial Services Inc. boosted its stake in AtriCure by 185.0% in the first quarter. Rockefeller Financial Services Inc. now owns 11,766 shares of the medical device company’s stock worth $225,000 after buying an additional 7,637 shares during the period. Tudor Investment Corp Et Al bought a new stake in AtriCure during the fourth quarter worth approximately $253,000. Finally, Vident Investment Advisory LLC bought a new stake in AtriCure during the first quarter worth approximately $323,000. Institutional investors own 86.46% of the company’s stock.
AtriCure Company Profile
AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.
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