AtriCure, Inc. (NASDAQ:ATRC) Stock Has Consensus Target Price of $54.10

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $55.70.

A number of analysts have issued reports on the company. Citigroup reissued a “market outperform” rating on shares of AtriCure in a research note on Wednesday. UBS Group downgraded AtriCure from a “buy” rating to a “sell” rating in a research report on Wednesday. Zacks Research lowered shares of AtriCure from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Piper Sandler increased their price objective on shares of AtriCure from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Finally, Raymond James Financial set a $52.00 price objective on AtriCure in a research report on Tuesday, July 21st.

Insiders Place Their Bets

In related news, Director Regina Groves sold 5,313 shares of AtriCure stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $54.22, for a total transaction of $288,070.86. Following the transaction, the director directly owned 34,546 shares of the company’s stock, valued at $1,873,084.12. The trade was a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Prange sold 3,564 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $38.80, for a total transaction of $138,283.20. Following the sale, the director directly owned 22,809 shares of the company’s stock, valued at approximately $884,989.20. This represents a 13.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 74,868 shares of company stock valued at $3,317,897. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AtriCure

Several large investors have recently modified their holdings of ATRC. BlackRock Inc. bought a new stake in shares of AtriCure during the second quarter valued at approximately $125,198,000. Wellington Management Group LLP increased its holdings in AtriCure by 3.3% in the second quarter. Wellington Management Group LLP now owns 3,495,603 shares of the medical device company’s stock valued at $97,807,000 after purchasing an additional 113,048 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in AtriCure by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 997,759 shares of the medical device company’s stock worth $28,466,000 after buying an additional 75,862 shares during the last quarter. Bank of America Corp DE acquired a new position in AtriCure during the second quarter valued at approximately $24,465,000. Finally, Grandeur Peak Global Advisors LLC bought a new stake in shares of AtriCure in the 2nd quarter valued at $16,435,000. 99.11% of the stock is currently owned by institutional investors.

AtriCure Price Performance

ATRC opened at $58.97 on Wednesday. The firm has a market cap of $3.00 billion, a P/E ratio of 280.82 and a beta of 1.24. The business’s fifty day simple moving average is $54.17 and its 200 day simple moving average is $39.31. AtriCure has a 52 week low of $25.36 and a 52 week high of $61.70. The company has a quick ratio of 3.19, a current ratio of 4.22 and a debt-to-equity ratio of 0.14.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Thursday, July 23rd. The medical device company reported $0.18 earnings per share (EPS) for the quarter. AtriCure had a net margin of 1.85% and a return on equity of 2.34%. The company had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $151.80 million. During the same period last year, the company earned ($0.13) EPS. As a group, equities research analysts anticipate that AtriCure will post 0.29 EPS for the current fiscal year.

About AtriCure

AtriCure, Inc is a medical device company that develops and sells products for the surgical treatment of atrial fibrillation (AFib) and related conditions. Its technologies are designed to support cardiac surgeons and electrophysiologists performing tissue ablation, left atrial appendage management and other procedures intended to restore or maintain normal heart rhythm.

The company’s product portfolio includes the AtriClip device, which is used to exclude the left atrial appendage, along with surgical ablation systems such as the Isolator Synergy clamps and cryoablation products.