Northland Securities downgraded shares of AtriCure (NASDAQ:ATRC) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, Briefing.com Automated Import reports. The firm currently has $30.00 price objective on the medical device company’s stock.
Several other research firms have also issued reports on ATRC. BidaskClub upgraded AtriCure from a buy rating to a strong-buy rating in a research note on Friday, July 26th. ValuEngine lowered AtriCure from a strong-buy rating to a buy rating in a research note on Wednesday, June 19th. Finally, Zacks Investment Research lowered AtriCure from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $36.57.
ATRC opened at $26.94 on Tuesday. AtriCure has a 52-week low of $26.11 and a 52-week high of $36.49. The company has a current ratio of 3.72, a quick ratio of 3.10 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $31.03 and its 200 day simple moving average is $29.98.
AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. AtriCure had a negative return on equity of 13.06% and a negative net margin of 9.46%. The business had revenue of $58.90 million for the quarter, compared to analyst estimates of $57.76 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. AtriCure’s revenue was up 13.7% on a year-over-year basis. As a group, research analysts predict that AtriCure will post -0.9 earnings per share for the current year.
In other news, CEO Michael H. Carrel sold 1,454 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.00, for a total value of $47,982.00. Following the transaction, the chief executive officer now owns 637,557 shares of the company’s stock, valued at $21,039,381. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin J. Noznesky sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the senior vice president now directly owns 94,068 shares in the company, valued at approximately $2,822,040. The disclosure for this sale can be found here. Insiders sold 37,158 shares of company stock worth $1,169,102 in the last ninety days. 8.00% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of ATRC. Assetmark Inc. grew its position in shares of AtriCure by 109.7% in the second quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock valued at $29,000 after purchasing an additional 510 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of AtriCure by 114.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,597 shares of the medical device company’s stock valued at $48,000 after purchasing an additional 853 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of AtriCure in the first quarter valued at approximately $82,000. Captrust Financial Advisors acquired a new position in shares of AtriCure in the second quarter valued at approximately $134,000. Finally, Acadian Asset Management LLC grew its position in shares of AtriCure by 100.8% in the second quarter. Acadian Asset Management LLC now owns 4,623 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 2,321 shares during the last quarter. 89.99% of the stock is currently owned by institutional investors.
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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