AtriCure (ATRC) Cut to D+ at TheStreet
A number of other brokerages also recently commented on ATRC. Canaccord Genuity restated a buy rating and issued a $28.00 target price on shares of AtriCure in a research note on Monday, October 9th. Zacks Investment Research upgraded AtriCure from a sell rating to a hold rating in a research note on Monday, October 2nd. BidaskClub downgraded AtriCure from a hold rating to a sell rating in a research note on Saturday, August 5th. Needham & Company LLC lowered their target price on AtriCure from $26.00 to $25.00 and set a buy rating on the stock in a research note on Thursday, November 2nd. Finally, ValuEngine downgraded AtriCure from a hold rating to a sell rating in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. AtriCure currently has an average rating of Hold and a consensus price target of $25.00.
Shares of AtriCure (NASDAQ ATRC) opened at $18.52 on Wednesday. AtriCure has a one year low of $14.78 and a one year high of $25.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.65 and a current ratio of 2.28.
AtriCure (NASDAQ:ATRC) last issued its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. AtriCure had a negative return on equity of 20.28% and a negative net margin of 19.40%. The firm had revenue of $42.20 million for the quarter, compared to the consensus estimate of $43.44 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. equities research analysts predict that AtriCure will post -0.96 EPS for the current year.
In other news, CFO M. Andrew Wade sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $18.41, for a total value of $36,820.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director B Kristine Johnson bought 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was purchased at an average price of $18.36 per share, for a total transaction of $27,540.00. Following the transaction, the director now owns 10,969 shares of the company’s stock, valued at $201,390.84. The disclosure for this purchase can be found here. Corporate insiders own 10.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATRC. US Bancorp DE lifted its position in shares of AtriCure by 152.1% in the second quarter. US Bancorp DE now owns 4,202 shares of the medical device company’s stock valued at $102,000 after acquiring an additional 2,535 shares in the last quarter. Sei Investments Co. lifted its position in shares of AtriCure by 75.5% in the second quarter. Sei Investments Co. now owns 6,933 shares of the medical device company’s stock valued at $168,000 after acquiring an additional 2,983 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of AtriCure in the third quarter valued at approximately $205,000. Legal & General Group Plc lifted its position in shares of AtriCure by 3.8% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the medical device company’s stock valued at $208,000 after acquiring an additional 312 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of AtriCure in the second quarter valued at approximately $253,000. Institutional investors and hedge funds own 86.17% of the company’s stock.
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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