StockNews.com Downgrades AtriCure (NASDAQ:ATRC) to Sell

StockNews.com lowered shares of AtriCure (NASDAQ:ATRC) from a hold rating to a sell rating in a report published on Tuesday morning.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus reduced their price target on AtriCure from $30.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday, July 31st. Piper Sandler dropped their price objective on AtriCure from $65.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Canaccord Genuity Group dropped their price objective on AtriCure from $57.00 to $49.00 and set a buy rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on AtriCure from $34.00 to $30.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Finally, Needham & Company LLC dropped their price objective on AtriCure from $40.00 to $34.00 and set a buy rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $42.44.

AtriCure Trading Up 1.5 %

Shares of AtriCure stock opened at $26.21 on Tuesday. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $47.13. The firm has a market cap of $1.25 billion, a PE ratio of -32.76 and a beta of 1.44. The business’s fifty day moving average is $23.18 and its two-hundred day moving average is $25.50. The company has a quick ratio of 2.83, a current ratio of 4.13 and a debt-to-equity ratio of 0.16.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The company had revenue of $116.27 million for the quarter, compared to analyst estimates of $116.24 million. During the same quarter in the prior year, the company posted ($0.12) EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. Analysts anticipate that AtriCure will post -0.77 earnings per share for the current year.

Insider Buying and Selling at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of AtriCure

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System increased its position in shares of AtriCure by 4.0% during the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after acquiring an additional 517 shares during the last quarter. ProShare Advisors LLC increased its position in shares of AtriCure by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after acquiring an additional 659 shares during the last quarter. Bank of Montreal Can grew its stake in AtriCure by 4.0% in the second quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock worth $488,000 after purchasing an additional 831 shares in the last quarter. Comerica Bank grew its stake in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after purchasing an additional 1,155 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.