Analysts Set AtriCure Inc. (ATRC) Price Target at $23.50

AtriCure Inc. (NASDAQ:ATRC) has been assigned an average recommendation of “Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.50.

Several analysts have recently commented on the stock. Zacks Investment Research raised shares of AtriCure from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, May 9th. TheStreet upgraded AtriCure from a “d+” rating to a “c-” rating in a report on Monday, May 15th. ValuEngine upgraded AtriCure from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $26.00 target price on shares of AtriCure in a report on Tuesday, May 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price (up from $23.00) on shares of AtriCure in a report on Friday, May 5th.

In other AtriCure news, SVP Andrew L. Lux sold 20,000 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $18.85, for a total transaction of $377,000.00. Following the transaction, the senior vice president now directly owns 85,589 shares in the company, valued at approximately $1,613,352.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elizabeth D. Krell sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $21.44, for a total value of $214,400.00. Following the transaction, the director now owns 24,162 shares in the company, valued at $518,033.28. The disclosure for this sale can be found here. 10.00% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of ATRC. Bank of Montreal Can boosted its position in shares of AtriCure by 1.2% in the first quarter. Bank of Montreal Can now owns 10,462 shares of the medical device company’s stock valued at $200,000 after buying an additional 128 shares during the period. Bayesian Capital Management LP bought a new position in shares of AtriCure during the fourth quarter valued at $204,000. Rockefeller Financial Services Inc. boosted its position in shares of AtriCure by 185.0% in the first quarter. Rockefeller Financial Services Inc. now owns 11,766 shares of the medical device company’s stock valued at $225,000 after buying an additional 7,637 shares during the period. Tudor Investment Corp Et Al bought a new position in shares of AtriCure during the fourth quarter valued at $253,000. Finally, Vident Investment Advisory LLC bought a new position in shares of AtriCure during the first quarter valued at $323,000. Institutional investors and hedge funds own 79.30% of the company’s stock.

Shares of AtriCure (ATRC) traded up 0.80% on Monday, reaching $21.49. 130,848 shares of the company’s stock were exchanged. The stock’s market cap is $729.50 million. The company’s 50 day moving average price is $21.18 and its 200-day moving average price is $18.86. AtriCure has a 52-week low of $13.45 and a 52-week high of $23.95.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Thursday, May 4th. The medical device company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.01. The company had revenue of $41.30 million during the quarter, compared to the consensus estimate of $40.25 million. AtriCure had a negative net margin of 23.78% and a negative return on equity of 19.84%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.31) EPS. Equities analysts forecast that AtriCure will post ($0.96) EPS for the current fiscal year.

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About AtriCure

AtriCure, Inc is an atrial fibrillation (Afib) solutions company. The Company develops, manufactures, and sells devices designed primarily for the surgical ablation of cardiac tissue and systems designed for the exclusion of the left atrial appendage. It has various product lines for the ablation of cardiac tissue, including its Isolator Synergy Ablation System, for the treatment of persistent and longstanding persistent forms of Afib in patients undergoing certain open concomitant procedures.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ATRC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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