AtriCure (NASDAQ:ATRC) Downgraded to “Sell” at BidaskClub

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

A number of other equities analysts have also weighed in on the company. Needham & Company LLC set a $39.00 price objective on AtriCure and gave the stock a buy rating in a research note on Monday, August 12th. BTIG Research reaffirmed a buy rating and issued a $35.00 price objective on shares of AtriCure in a research note on Tuesday, August 13th. Northland Securities lowered AtriCure from an outperform rating to a market perform rating and set a $30.00 price objective for the company. in a research note on Tuesday, August 13th. Piper Jaffray Companies set a $40.00 price objective on AtriCure and gave the stock a buy rating in a research note on Monday, August 12th. Finally, Zacks Investment Research lowered AtriCure from a buy rating to a hold rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $36.57.

NASDAQ ATRC opened at $25.51 on Thursday. The firm has a market cap of $971.11 million, a price-to-earnings ratio of -27.14 and a beta of 0.33. The company has a quick ratio of 3.10, a current ratio of 3.72 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $28.30 and a 200-day moving average price of $29.21. AtriCure has a twelve month low of $22.57 and a twelve month high of $36.49.

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

In related news, CEO Michael H. Carrel sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $32.00, for a total value of $800,000.00. Following the sale, the chief executive officer now directly owns 661,103 shares in the company, valued at $21,155,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael H. Carrel sold 1,454 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.00, for a total value of $47,982.00. Following the completion of the sale, the chief executive officer now owns 637,557 shares in the company, valued at $21,039,381. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Commerce Bank purchased a new stake in shares of AtriCure in the second quarter worth about $434,000. WCM Investment Management LLC lifted its position in shares of AtriCure by 58.1% in the second quarter. WCM Investment Management LLC now owns 46,926 shares of the medical device company’s stock worth $1,400,000 after buying an additional 17,248 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of AtriCure by 18.8% in the second quarter. Wasatch Advisors Inc. now owns 671,836 shares of the medical device company’s stock worth $20,048,000 after buying an additional 106,475 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of AtriCure in the first quarter worth about $145,000. Finally, Oppenheimer Asset Management Inc. lifted 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 worth $48,000 after buying an additional 853 shares in the last quarter. Institutional investors own 89.81% 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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