AtriCure (NASDAQ:ATRC) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of AtriCure (NASDAQ:ATRCGet Rating) from a sell rating to a hold rating in a research note published on Thursday morning.

ATRC has been the subject of several other reports. BTIG Research decreased their price target on shares of AtriCure from $94.00 to $75.00 and set a buy rating for the company in a research note on Friday, June 24th. Needham & Company LLC decreased their price target on shares of AtriCure from $67.00 to $55.00 and set a buy rating for the company in a research note on Tuesday, June 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, AtriCure presently has a consensus rating of Moderate Buy and an average price target of $89.33.

Shares of NASDAQ ATRC opened at $41.01 on Thursday. The company has a current ratio of 4.21, a quick ratio of 3.35 and a debt-to-equity ratio of 0.15. AtriCure has a 12 month low of $32.83 and a 12 month high of $89.18. The firm has a market capitalization of $1.90 billion, a PE ratio of 36.62 and a beta of 1.15. The firm has a fifty day simple moving average of $42.96 and a two-hundred day simple moving average of $57.02.

AtriCure (NASDAQ:ATRCGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The medical device company reported ($0.33) EPS for the quarter, hitting the consensus estimate of ($0.33). AtriCure had a net margin of 17.93% and a negative return on equity of 11.66%. The business had revenue of $74.58 million during the quarter, compared to analyst estimates of $71.17 million. During the same period in the prior year, the business earned ($0.32) EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, sell-side analysts predict that AtriCure will post -1.09 earnings per share for the current year.

In related news, insider Tonya Austin sold 3,203 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $42.69, for a total transaction of $136,736.07. Following the sale, the insider now directly owns 17,621 shares of the company’s stock, valued at approximately $752,240.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in AtriCure by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 4,259,364 shares of the medical device company’s stock valued at $279,713,000 after purchasing an additional 25,066 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of AtriCure by 18.7% during the 4th quarter. Alliancebernstein L.P. now owns 3,455,856 shares of the medical device company’s stock valued at $240,286,000 after acquiring an additional 544,296 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of AtriCure by 17.5% during the 1st quarter. Invesco Ltd. now owns 2,865,409 shares of the medical device company’s stock valued at $188,171,000 after acquiring an additional 427,792 shares during the last quarter. First Light Asset Management LLC boosted its holdings in shares of AtriCure by 35.8% during the 1st quarter. First Light Asset Management LLC now owns 1,364,812 shares of the medical device company’s stock valued at $89,627,000 after acquiring an additional 359,823 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in shares of AtriCure by 4.7% during the 1st quarter. Champlain Investment Partners LLC now owns 1,275,820 shares of the medical device company’s stock valued at $83,783,000 after acquiring an additional 57,270 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

About AtriCure (Get Rating)

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.

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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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