AtriCure (NASDAQ:ATRC) Raised to Outperform at Oppenheimer

Oppenheimer upgraded shares of AtriCure (NASDAQ:ATRC) from a market perform rating to an outperform rating in a research report report published on Tuesday morning, MarketBeat reports. Oppenheimer currently has $32.00 price objective on the medical device company’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of AtriCure from a hold rating to a sell rating in a research report on Wednesday, March 27th. Stifel Nicolaus reduced their target price on AtriCure from $50.00 to $42.00 and set a buy rating for the company in a report on Friday, February 16th. UBS Group raised their target price on AtriCure from $57.00 to $58.00 and gave the company a buy rating in a report on Friday, February 16th. Finally, Needham & Company LLC reissued a buy rating and issued a $46.00 target price on shares of AtriCure in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $52.63.

AtriCure Stock Performance

Shares of ATRC opened at $23.17 on Tuesday. The company has a current ratio of 3.57, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.12 billion, a PE ratio of -35.11 and a beta of 1.38. The company’s 50 day simple moving average is $29.83 and its 200-day simple moving average is $33.65. AtriCure has a 12-month low of $22.07 and a 12-month high of $59.61.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings data on Thursday, February 15th. The medical device company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. AtriCure had a negative net margin of 7.62% and a negative return on equity of 7.55%. The firm had revenue of $106.50 million for the quarter, compared to analyst estimates of $103.68 million. During the same period last year, the firm posted ($0.09) EPS. AtriCure’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, equities analysts predict that AtriCure will post -0.71 EPS for the current year.

Insider Transactions at AtriCure

In other news, insider Justin J. Noznesky sold 1,500 shares of AtriCure stock in a transaction on Monday, April 1st. The stock was sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the transaction, the insider now owns 72,784 shares of the company’s stock, valued at approximately $2,211,905.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Karl S. Dahlquist sold 1,885 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $32.16, for a total value of $60,621.60. Following the completion of the transaction, the insider now owns 50,954 shares of the company’s stock, valued at approximately $1,638,680.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin J. Noznesky sold 1,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $30.39, for a total transaction of $45,585.00. Following the completion of the transaction, the insider now directly owns 72,784 shares of the company’s stock, valued at approximately $2,211,905.76. The disclosure for this sale can be found here. Insiders sold 13,116 shares of company stock valued at $468,797 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ATRC. RiverPark Advisors LLC purchased a new stake in AtriCure in the 3rd quarter valued at about $27,000. Arcadia Investment Management Corp MI purchased a new stake in AtriCure in the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC increased its position in AtriCure by 31.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock worth $91,000 after purchasing an additional 497 shares in the last quarter. Quest Partners LLC acquired a new stake in AtriCure during the 4th quarter worth approximately $103,000. Finally, HighMark Wealth Management LLC increased its position in AtriCure by 175.6% during the 3rd quarter. HighMark Wealth Management LLC now owns 2,825 shares of the medical device company’s stock worth $124,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.