AtriCure, Inc. (ATRC) Cut to “Sell” at ValuEngine
AtriCure, Inc. (NASDAQ:ATRC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
Several other equities analysts have also commented on the stock. Canaccord Genuity decreased their price objective on shares of AtriCure from $28.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Needham & Company LLC reduced their target price on shares of AtriCure from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub lowered shares of AtriCure from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $25.00 target price on shares of AtriCure in a report on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.00.
AtriCure (NASDAQ:ATRC) opened at $17.94 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 1.65 and a debt-to-equity ratio of 0.20. AtriCure has a fifty-two week low of $14.78 and a fifty-two week high of $25.18.
AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Wednesday, November 1st. The medical device company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.02. AtriCure had a negative net margin of 19.40% and a negative return on equity of 20.28%. The firm had revenue of $42.20 million for the quarter, compared to analyst estimates of $43.44 million. During the same period in the prior year, the business posted ($0.21) EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. analysts forecast that AtriCure will post -0.96 EPS for the current year.
In related news, Director Elizabeth D. Krell sold 10,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $22.40, for a total value of $224,000.00. Following the transaction, the director now directly owns 29,967 shares of the company’s stock, valued at approximately $671,260.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director B Kristine Johnson bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average cost of $18.36 per share, for a total transaction of $27,540.00. Following the completion of the transaction, the director now directly owns 10,969 shares in the company, valued at $201,390.84. The disclosure for this purchase can be found here. Corporate insiders own 11.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in shares of AtriCure by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 36,056 shares of the medical device company’s stock valued at $874,000 after buying an additional 130 shares during the last quarter. Legal & General Group Plc grew its position in shares of AtriCure by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock valued at $208,000 after buying an additional 312 shares during the last quarter. Voya Investment Management LLC grew its position in shares of AtriCure by 7.9% in the 2nd quarter. Voya Investment Management LLC now owns 17,158 shares of the medical device company’s stock valued at $416,000 after buying an additional 1,250 shares during the last quarter. American International Group Inc. grew its position in shares of AtriCure by 7.0% in the 1st quarter. American International Group Inc. now owns 19,346 shares of the medical device company’s stock valued at $370,000 after buying an additional 1,273 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in shares of AtriCure by 1.7% in the 2nd quarter. Teachers Advisors LLC now owns 78,341 shares of the medical device company’s stock valued at $1,900,000 after buying an additional 1,321 shares during the last quarter. 81.11% of the stock is currently 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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