AtriCure (NASDAQ:ATRC) has been assigned a $40.00 price target by analysts at Piper Jaffray Companies in a research report issued on Monday, TipRanks reports. The firm currently has a “buy” rating on the medical device company’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 43.32% from the stock’s previous close.

A number of other equities research analysts have also weighed in on ATRC. Needham & Company LLC set a $39.00 price target on AtriCure and gave the stock a “buy” rating in a research note on Monday. ValuEngine lowered AtriCure from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 19th. BidaskClub upgraded AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 26th. Zacks Investment Research lowered AtriCure from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Northland Securities lowered AtriCure from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.57.

ATRC traded down $1.15 on Monday, hitting $27.91. The company had a trading volume of 393,980 shares, compared to its average volume of 221,958. The company has a fifty day simple moving average of $31.12. AtriCure has a 12-month low of $26.11 and a 12-month high of $36.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.72 and a quick ratio of 3.10. The stock has a market cap of $1.21 billion, a PE ratio of -29.69 and a beta of 0.24.

AtriCure (NASDAQ:ATRC) last posted its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating 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 company had revenue of $58.90 million for the quarter, compared to analyst estimates of $57.76 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, research analysts forecast that AtriCure will post -0.78 earnings per share for the current fiscal year.

In related news, SVP Justin J. Noznesky sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the senior vice president now owns 94,068 shares in the company, valued at $2,822,040. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael H. Carrel sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $32.00, for a total value of $800,000.00. Following the completion of the sale, the chief executive officer now owns 661,103 shares in the company, valued at approximately $21,155,296. The disclosure for this sale can be found here. Insiders have sold 37,158 shares of company stock worth $1,169,102 in the last 90 days. Insiders own 8.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ATRC. Principal Financial Group Inc. boosted its position in AtriCure by 87.1% in the fourth quarter. Principal Financial Group Inc. now owns 12,635 shares of the medical device company’s stock valued at $387,000 after buying an additional 5,883 shares during the last quarter. Bank of America Corp DE boosted its position in AtriCure by 88.9% in the fourth quarter. Bank of America Corp DE now owns 128,008 shares of the medical device company’s stock valued at $3,917,000 after buying an additional 60,240 shares during the last quarter. Legal & General Group Plc boosted its position in AtriCure by 31.0% in the fourth quarter. Legal & General Group Plc now owns 6,958 shares of the medical device company’s stock valued at $213,000 after buying an additional 1,646 shares during the last quarter. Deutsche Bank AG lifted its holdings in AtriCure by 59.0% in the fourth quarter. Deutsche Bank AG now owns 117,065 shares of the medical device company’s stock valued at $3,579,000 after acquiring an additional 43,461 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its holdings in AtriCure by 12.5% in the first quarter. Virginia Retirement Systems ET AL now owns 17,100 shares of the medical device company’s stock valued at $458,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other institutional investors own 89.99% of the company’s stock.

AtriCure Company Profile

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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Analyst Recommendations for AtriCure (NASDAQ:ATRC)

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