Zacks Research Downgrades AtriCure (NASDAQ:ATRC) to Hold

by · The Cerbat Gem

AtriCure (NASDAQ:ATRC – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also recently commented on ATRC. BTIG Research reissued a “buy” rating and set a $54.00 price target on shares of AtriCure in a research note on Wednesday, February 18th. Oppenheimer cut shares of AtriCure from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. cut shares of AtriCure from an “overweight” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Wednesday, February 11th. Freedom Capital raised shares of AtriCure to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, Weiss Ratings cut shares of AtriCure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.71.

Check Out Our Latest Analysis on AtriCure

AtriCure Price Performance

Shares of AtriCure stock opened at $27.10 on Thursday. The company has a current ratio of 4.29, a quick ratio of 3.18 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -271.00 and a beta of 1.26. AtriCure has a 1-year low of $25.36 and a 1-year high of $43.18. The firm’s 50-day moving average price is $28.18 and its two-hundred day moving average price is $33.27.

Insider Activity at AtriCure

In related news, insider Vinayak Doraiswamy sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $29.83, for a total value of $149,150.00. Following the transaction, the insider directly owned 96,875 shares in the company, valued at $2,889,781.25. This represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen Prange sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $28.65, for a total transaction of $85,950.00. Following the completion of the transaction, the director owned 26,373 shares in the company, valued at $755,586.45. This represents a 10.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On AtriCure

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in AtriCure by 6.5% in the third quarter. PNC Financial Services Group Inc. now owns 6,188 shares of the medical device company’s stock worth $218,000 after purchasing an additional 380 shares during the period. Smartleaf Asset Management LLC raised its holdings in AtriCure by 59.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,146 shares of the medical device company’s stock worth $46,000 after purchasing an additional 429 shares during the period. Scotia Capital Inc. raised its holdings in AtriCure by 1.2% in the third quarter. Scotia Capital Inc. now owns 37,677 shares of the medical device company’s stock worth $1,328,000 after purchasing an additional 457 shares during the period. First Bank & Trust raised its holdings in AtriCure by 6.0% in the fourth quarter. First Bank & Trust now owns 8,805 shares of the medical device company’s stock worth $348,000 after purchasing an additional 495 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its holdings in AtriCure by 197.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 811 shares of the medical device company’s stock worth $29,000 after purchasing an additional 538 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

AtriCure Company Profile

(Get Free Report)

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.

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