AtriCure, Inc. (ATRC) Lowered to “Sell” at BidaskClub
BidaskClub cut shares of AtriCure, Inc. (NASDAQ:ATRC) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.
Several other research analysts have also commented on the stock. Zacks Investment Research raised shares of AtriCure from a hold rating to a buy rating and set a $26.00 price target for the company in a report on Tuesday, May 9th. Canaccord Genuity reaffirmed a buy rating and issued a $22.00 price target on shares of AtriCure in a report on Monday, April 17th. ValuEngine raised shares of AtriCure from a sell rating to a hold rating in a report on Friday, June 2nd. Piper Jaffray Companies reaffirmed an overweight rating and issued a $26.00 price target on shares of AtriCure in a report on Tuesday, May 30th. Finally, TheStreet raised shares of AtriCure from a d+ rating to a c- rating in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $24.11.
Shares of AtriCure (NASDAQ ATRC) traded up 0.09% during midday trading on Friday, hitting $22.49. 161,392 shares of the stock traded hands. The stock’s market cap is $772.17 million. AtriCure has a one year low of $13.45 and a one year high of $25.18. The firm has a 50-day moving average price of $23.64 and a 200 day moving average price of $20.22.
AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Thursday, July 27th. The medical device company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.05. AtriCure had a negative net margin of 19.56% and a negative return on equity of 19.56%. The business had revenue of $45.23 million during the quarter, compared to analyst estimates of $44.15 million. During the same period in the previous year, the business posted ($0.26) EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. Analysts anticipate that AtriCure will post ($0.95) earnings per share for the current year.
In other AtriCure news, Director Elizabeth D. Krell sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $21.44, for a total transaction of $214,400.00. Following the completion of the transaction, the director now directly owns 24,162 shares of the company’s stock, valued at approximately $518,033.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in AtriCure by 11.2% in the fourth quarter. State Street Corp now owns 555,334 shares of the medical device company’s stock worth $10,872,000 after buying an additional 55,938 shares during the last quarter. Teachers Advisors LLC increased its stake in AtriCure by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 71,668 shares of the medical device company’s stock worth $1,403,000 after buying an additional 1,520 shares during the period. Peregrine Capital Management LLC increased its stake in AtriCure by 10.2% in the first quarter. Peregrine Capital Management LLC now owns 994,591 shares of the medical device company’s stock worth $18,808,000 after buying an additional 92,071 shares during the period. Bank of Montreal Can increased 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. Finally, Skylands Capital LLC increased its stake in AtriCure by 269.2% in the first quarter. Skylands Capital LLC now owns 53,350 shares of the medical device company’s stock worth $1,022,000 after buying an additional 38,900 shares during the period. 86.01% of the stock is owned by hedge funds and other institutional investors.
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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