BidaskClub cut shares of AtriCure (NASDAQ:ATRC) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, BidAskClub reports.

ATRC has been the topic of a number of other research reports. JPMorgan Chase & Co. restated a buy rating on shares of AtriCure in a research report on Friday, September 6th. ValuEngine lowered shares of AtriCure from a strong-buy rating to a buy rating in a research report on Wednesday, June 19th. Zacks Investment Research lowered shares of AtriCure from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Piper Jaffray Companies set a $40.00 target price on shares of AtriCure and gave the company a buy rating in a research report on Monday, August 12th. Finally, BTIG Research restated a buy rating and issued a $35.00 target price on shares of AtriCure in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $36.57.

AtriCure stock traded up $0.47 during mid-day trading on Thursday, reaching $25.51. The company had a trading volume of 189,665 shares, compared to its average volume of 233,687. AtriCure has a fifty-two week low of $22.57 and a fifty-two 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 company has a market cap of $971.05 million, a P/E ratio of -27.14 and a beta of 0.33. The business has a fifty day simple moving average of $28.44 and a 200 day simple moving average of $29.25.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, July 30th. The medical device company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. AtriCure had a negative net margin of 9.46% and a negative return on equity of 13.06%. The firm had revenue of $58.90 million for the quarter, compared to analyst estimates of $57.76 million. During the same quarter last year, the business posted ($0.19) earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Research analysts forecast that AtriCure will post -0.94 EPS for the current year.

In other news, SVP Justin J. Noznesky sold 10,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the senior vice president now owns 94,068 shares of the company’s stock, valued at $2,822,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael H. Carrel sold 1,454 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.00, for a total transaction of $47,982.00. Following the transaction, the chief executive officer now directly owns 637,557 shares of the company’s stock, valued at approximately $21,039,381. The disclosure for this sale can be found here. Insiders have sold 36,454 shares of company stock valued at $1,147,982 in the last ninety days. Insiders own 8.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. raised its stake in shares of AtriCure by 109.7% during the second quarter. Assetmark Inc. now owns 975 shares of the medical device company’s stock valued at $29,000 after acquiring an additional 510 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in AtriCure by 4.7% during the second quarter. Virginia Retirement Systems ET AL now owns 17,900 shares of the medical device company’s stock worth $534,000 after buying an additional 800 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in AtriCure by 114.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,597 shares of the medical device company’s stock worth $48,000 after buying an additional 853 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in AtriCure by 6.4% during the second quarter. Parametric Portfolio Associates LLC now owns 16,738 shares of the medical device company’s stock worth $499,000 after buying an additional 1,006 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in AtriCure by 3.4% during the first quarter. Rhumbline Advisers now owns 48,738 shares of the medical device company’s stock worth $1,306,000 after buying an additional 1,594 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

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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