AtriCure (ATRC) Given “Buy” Rating at Piper Jaffray Companies
Piper Jaffray Companies reissued their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research report report published on Sunday. Piper Jaffray Companies currently has a $24.00 target price on the medical device company’s stock.
Several other research firms also recently weighed in on ATRC. Canaccord Genuity reiterated a buy rating and issued a $28.00 target price on shares of AtriCure in a report on Monday, October 9th. Zacks Investment Research upgraded shares of AtriCure from a sell rating to a hold rating in a report on Monday, October 2nd. Needham & Company LLC dropped their target price on shares of AtriCure from $26.00 to $25.00 and set a buy rating for the company in a report on Thursday, November 2nd. TheStreet downgraded shares of AtriCure from a c- rating to a d+ rating in a report on Wednesday, November 29th. Finally, ValuEngine downgraded shares of 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’s stock. The company currently has a consensus rating of Hold and an average price target of $24.67.
AtriCure (ATRC) traded up $0.01 during trading on Friday, reaching $17.96. 230,600 shares of the company traded hands, compared to its average volume of 196,915. AtriCure has a 12-month low of $14.78 and a 12-month high of $25.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.28 and a quick ratio of 1.65.
AtriCure (NASDAQ:ATRC) last posted its earnings results on Wednesday, November 1st. The medical device company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $43.44 million. During the same quarter last year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. sell-side analysts expect that AtriCure will post -0.96 EPS for the current year.
In other AtriCure news, CFO M. Andrew Wade sold 2,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director B Kristine Johnson purchased 1,500 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of $18.36 per share, with a total value of $27,540.00. Following the purchase, 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. Insiders own 11.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in shares of AtriCure by 2.4% during the second quarter. FMR LLC now owns 5,068,247 shares of the medical device company’s stock worth $122,905,000 after purchasing an additional 118,247 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AtriCure by 3.8% during the second quarter. Vanguard Group Inc. now owns 1,446,732 shares of the medical device company’s stock worth $35,083,000 after purchasing an additional 52,761 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of AtriCure by 1.4% during the second quarter. Victory Capital Management Inc. now owns 1,319,475 shares of the medical device company’s stock worth $31,998,000 after purchasing an additional 18,536 shares in the last quarter. First Light Asset Management LLC grew its stake in shares of AtriCure by 0.3% during the second quarter. First Light Asset Management LLC now owns 958,858 shares of the medical device company’s stock worth $23,252,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its stake in shares of AtriCure by 3.5% during the third quarter. Peregrine Capital Management LLC now owns 924,740 shares of the medical device company’s stock worth $20,686,000 after purchasing an additional 31,526 shares in the last quarter. Hedge funds and other institutional investors own 86.17% of the company’s stock.
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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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