Zacks Investment Research downgraded shares of AtriCure (NASDAQ:ATRC) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “AtriCure, Inc. is a medical device company focused on developing, manufacturing and selling innovative surgical devices to create precise lesions, or scars, in soft tissues. Medical journals have described the adoption by leading cardiothoracic surgeons of the AtriCure, Inc. bipolar ablation system as a standard treatment alternative during open-heart surgical procedures to safely, rapidly and reliably create lesions in cardiac, or heart, tissue to block the abnormal electrical impulses that cause atrial fibrillation, a quivering of the upper chambers of the heart. “

Several other equities analysts also recently issued reports on the stock. Northland Securities downgraded shares of AtriCure from an outperform rating to a market perform rating and set a $30.00 price target for the company. in a report on Tuesday, August 13th. Piper Jaffray Companies set a $40.00 price objective on shares of AtriCure and gave the company a buy rating in a research report on Monday, August 12th. JPMorgan Chase & Co. restated a buy rating on shares of AtriCure in a research report on Friday, September 6th. Needham & Company LLC set a $39.00 price objective on shares of AtriCure and gave the company a buy rating in a research report on Monday, August 12th. Finally, BidaskClub upgraded shares of AtriCure from a sell rating to a hold rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. AtriCure has a consensus rating of Buy and a consensus target price of $36.00.

Shares of ATRC stock opened at $25.22 on Tuesday. AtriCure has a 12-month low of $22.57 and a 12-month high of $34.39. The company has a market capitalization of $969.17 million, a P/E ratio of -26.83 and a beta of 0.30. The firm has a 50-day moving average price of $25.56 and a 200 day moving average price of $28.58. The company has a quick ratio of 3.10, a current ratio of 3.72 and a debt-to-equity ratio of 0.15.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. AtriCure had a negative net margin of 9.46% and a negative return on equity of 13.06%. The firm had revenue of $58.90 million during the quarter, compared to the consensus estimate of $57.76 million. During the same period last year, the firm posted ($0.19) EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, research analysts expect that AtriCure will post -0.94 earnings per share for the current year.

In other AtriCure news, COO Douglas J. Seith sold 48,804 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.63, for a total value of $1,250,846.52. Following the completion of the sale, the chief operating officer now owns 208,281 shares in the company, valued at approximately $5,338,242.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael H. Carrel sold 1,454 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $33.00, for a total transaction of $47,982.00. Following the completion of the sale, the chief executive officer now owns 637,557 shares of the company’s stock, valued at approximately $21,039,381. The disclosure for this sale can be found here. Company insiders own 8.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its position in shares of AtriCure by 4,185.4% during the 2nd quarter. Invesco Ltd. now owns 382,256 shares of the medical device company’s stock worth $11,406,000 after buying an additional 373,336 shares during the period. Waddell & Reed Financial Inc. acquired a new stake in shares of AtriCure during the 2nd quarter worth approximately $10,825,000. GW&K Investment Management LLC grew its position in shares of AtriCure by 73.2% during the 2nd quarter. GW&K Investment Management LLC now owns 843,747 shares of the medical device company’s stock worth $25,177,000 after buying an additional 356,652 shares during the period. Nuveen Asset Management LLC grew its position in shares of AtriCure by 418.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 423,336 shares of the medical device company’s stock worth $12,632,000 after buying an additional 341,689 shares during the period. Finally, Tamarack Advisers LP grew its position in shares of AtriCure by 58.8% during the 2nd quarter. Tamarack Advisers LP now owns 675,000 shares of the medical device company’s stock worth $21,195,000 after buying an additional 250,000 shares during the period. Hedge funds and other institutional investors own 88.85% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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