AtriCure (NASDAQ:ATRC – Get Rating) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Wednesday.
Several other research analysts also recently issued reports on ATRC. BTIG Research cut their price target on AtriCure from $94.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, June 24th. Needham & Company LLC raised their target price on shares of AtriCure from $55.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 3rd. Stifel Nicolaus reduced their price target on shares of AtriCure from $70.00 to $50.00 in a report on Monday, July 18th. Finally, Piper Sandler dropped their price objective on shares of AtriCure from $90.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, AtriCure currently has an average rating of "Moderate Buy" and an average target price of $75.86.
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AtriCure Price Performance
AtriCure stock traded up $1.25 during mid-day trading on Wednesday, reaching $44.07. The company had a trading volume of 294,105 shares, compared to its average volume of 264,289. The stock's 50-day simple moving average is $46.47 and its 200-day simple moving average is $50.65. AtriCure has a 1 year low of $32.83 and a 1 year high of $89.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.66 and a quick ratio of 2.93. The company has a market capitalization of $2.05 billion, a P/E ratio of 37.99 and a beta of 1.21.
AtriCure (NASDAQ:ATRC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The medical device company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). AtriCure had a net
margin of 17.62% and a negative return on equity of 11.47%. During the same period in the previous year, the company earned ($0.30) earnings per share. On average, equities analysts predict that AtriCure will post -1.09 EPS for the current year.
Institutional Trading of AtriCure
Several hedge funds and other institutional investors have recently bought and sold shares of ATRC. Millennium Management LLC boosted its holdings in shares of AtriCure by 196.2% during the fourth quarter. Millennium Management LLC now owns 990,170 shares of the medical device company's stock worth $68,847,000 after purchasing an additional 655,861 shares during the last quarter. Alliancebernstein L.P. boosted its stake in AtriCure by 18.7% in the 4th quarter. Alliancebernstein L.P. now owns 3,455,856 shares of the medical device company's stock worth $240,286,000 after buying an additional 544,296 shares during the last quarter. Invesco Ltd. grew its holdings in AtriCure by 17.5% in the 1st quarter. Invesco Ltd. now owns 2,865,409 shares of the medical device company's stock valued at $188,171,000 after buying an additional 427,792 shares during the period. First Light Asset Management LLC increased its stake in shares of AtriCure by 35.8% during the 1st quarter. First Light Asset Management LLC now owns 1,364,812 shares of the medical device company's stock valued at $89,627,000 after acquiring an additional 359,823 shares during the last quarter. Finally, Granite Investment Partners LLC purchased a new position in shares of AtriCure during the 2nd quarter worth about $9,059,000. 95.21% of the stock is owned by hedge funds and other institutional investors.
AtriCure Company Profile
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AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems, and intercostal nerves to medical centers in the United States, Europe, Asia, and internationally. The company offers Isolator Synergy Clamps, a 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 enable users to make longer linear lines of ablation.
Further Reading
- Get a free copy of the StockNews.com research report on AtriCure (ATRC)
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