AtriCure Inc. (ATRC) Shares Down 4.7%
Shares of AtriCure Inc. (NASDAQ:ATRC) fell 4.7% during mid-day trading on Wednesday . The stock traded as low as $14.96 and last traded at $14.98, with a volume of 74,408 shares trading hands. The stock had previously closed at $15.72.
Several research firms recently issued reports on ATRC. BTIG Research reissued a “buy” rating and issued a $19.00 price target (down previously from $34.00) on shares of AtriCure in a research report on Wednesday, August 10th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target (down previously from $23.00) on shares of AtriCure in a research report on Monday, August 8th. Piper Jaffray Cos. restated an “overweight” rating and set a $17.00 price objective (down from $22.00) on shares of AtriCure in a research note on Monday, August 8th. Canaccord Genuity set a $21.00 price objective on AtriCure and gave the company a “buy” rating in a research note on Saturday, August 6th. Finally, JMP Securities set a $23.00 price objective on AtriCure and gave the company a “buy” rating in a research note on Saturday, August 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. AtriCure currently has a consensus rating of “Buy” and a consensus target price of $20.13.
The firm’s market cap is $494.71 million. The company has a 50 day moving average price of $14.97 and a 200-day moving average price of $15.73.
AtriCure (NASDAQ:ATRC) last announced its earnings results on Thursday, August 4th. The medical device company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. During the same quarter in the prior year, the company earned ($0.18) EPS. The business had revenue of $39.70 million for the quarter, compared to the consensus estimate of $39.84 million. AtriCure’s revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that AtriCure Inc. will post ($1.16) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the company. RS Investment Management Co. LLC boosted its stake in shares of AtriCure by 21.1% in the fourth quarter. RS Investment Management Co. LLC now owns 2,679,551 shares of the medical device company’s stock valued at $60,129,000 after buying an additional 466,200 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of AtriCure by 20.2% in the fourth quarter. Wells Fargo & Company MN now owns 659,070 shares of the medical device company’s stock valued at $14,789,000 after buying an additional 110,890 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of AtriCure by 15.3% in the fourth quarter. Victory Capital Management Inc. now owns 51,647 shares of the medical device company’s stock valued at $1,159,000 after buying an additional 6,845 shares during the last quarter.
AtriCure, Inc is a medical device company providing atrial fibrillation (Afib) solutions. The Company’s segment 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. The Company 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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