Analysts Set AtriCure Inc. (NASDAQ:ATRC) PT at $20.71
AtriCure Inc. (NASDAQ:ATRC) has been given an average recommendation of “Buy” by the nine research firms that are presently covering the firm. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.71.
ATRC has been the topic of a number of recent research reports. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $17.00 target price (down from $22.00) on shares of AtriCure in a report on Monday, August 8th. Stifel Nicolaus cut their target price on AtriCure from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Canaccord Genuity set a $21.00 target price on AtriCure and gave the stock a “buy” rating in a report on Saturday, August 6th. BTIG Research reiterated a “buy” rating and issued a $19.00 target price (down from $34.00) on shares of AtriCure in a report on Wednesday, August 10th. Finally, JMP Securities set a $23.00 target price on AtriCure and gave the stock a “buy” rating in a report on Saturday, August 6th.
In other news, Director Elizabeth D. Krell sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $15.93, for a total transaction of $95,580.00. Following the completion of the sale, the director now directly owns 20,162 shares of the company’s stock, valued at approximately $321,180.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Elizabeth D. Krell sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $15.20, for a total value of $76,000.00. Following the sale, the director now directly owns 15,162 shares of the company’s stock, valued at $230,462.40. The disclosure for this sale can be found here. Company insiders own 10.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Royce & Associates LP raised its stake in shares of AtriCure by 44.8% in the second quarter. Royce & Associates LP now owns 480,300 shares of the medical device company’s stock valued at $6,787,000 after buying an additional 148,500 shares in the last quarter. Blair William & Co. IL raised its stake in shares of AtriCure by 80.0% in the second quarter. Blair William & Co. IL now owns 100,185 shares of the medical device company’s stock valued at $1,416,000 after buying an additional 44,520 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of AtriCure during the second quarter valued at about $298,000. Bank of New York Mellon Corp raised its stake in shares of AtriCure by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 134,237 shares of the medical device company’s stock valued at $1,896,000 after buying an additional 4,302 shares in the last quarter. Finally, SECOR Capital Advisors LP acquired a new stake in shares of AtriCure during the second quarter valued at about $749,000. 77.26% of the stock is owned by hedge funds and other institutional investors.
Shares of AtriCure (NASDAQ:ATRC) opened at 17.52 on Wednesday. The stock has a 50 day moving average of $15.84 and a 200-day moving average of $15.41. AtriCure has a 12 month low of $13.44 and a 12 month high of $23.24. The company’s market cap is $581.70 million.
AtriCure (NASDAQ:ATRC) last issued its earnings results on Thursday, August 4th. The medical device company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. AtriCure had a negative return on equity of 20.88% and a negative net margin of 24.48%. The company had revenue of $39.70 million for the quarter, compared to analysts’ expectations of $39.84 million. During the same period last year, the business earned ($0.18) EPS. AtriCure’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities analysts forecast that AtriCure will post ($1.16) earnings per share for the current year.
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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