It is Poised to be a Bull Market for AtriCure Inc. (ATRC)

AtriCure Inc. (NASDAQ: ATRC) stock jumped 0.96% on Friday to $45.28 against a previous-day closing price of $44.85. With 0.27 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.3 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $45.87 whereas the lowest price it dropped to was $44.15. The 52-week range on ATRC shows that it touched its highest point at $89.18 and its lowest point at $32.83 during that stretch. It currently has a 1-year price target of $68.40. Beta for the stock currently stands at 1.18.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ATRC was up-trending over the past week, with a rise of 3.12%, but this was up by 10.65% over a month. Three-month performance dropped to -23.53% while six-month performance fell -28.64%. The stock lost -43.88% in the past year, while it has lost -34.88% so far this year. A look at the trailing 12-month EPS for ATRC yields 1.11 with Next year EPS estimates of -0.82. For the next quarter, that number is -0.29. This implies an EPS growth rate of 195.40% for this year and 23.60% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 24.90%.

Float and Shares Shorts:

At present, 45.53 million ATRC shares are outstanding with a float of 44.98 million shares on hand for trading. On Apr 28, 2022, short shares totaled 1.68 million, which was 3.64% higher than short shares on Mar 30, 2022. In addition to Mr. Michael H. Carrel as the firm’s CEO, Pres & Director, Ms. Angela L. Wirick CPA serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 98.92% of ATRC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.71% of ATRC, in contrast to 36.39% held by mutual funds. Shares owned by individuals account for 18.30%. As the largest shareholder in ATRC with 8.94% of the stake, The Vanguard Group, Inc. holds 4,138,784 shares worth 4,138,784. A second-largest stockholder of ATRC, AllianceBernstein LP, holds 3,812,414 shares, controlling over 8.24% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ATRC, holding 2,945,357 shares or 6.36% stake. With a 4.77% stake in ATRC, the Alger Funds – Small Cap Focus Fun is the largest stakeholder. A total of 2,206,555 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.80% of ATRC stock, is the second-largest Mutual Fund holder. It holds 1,297,608 shares valued at 53.02 million. AB Small Cap Growth Portfolio holds 2.76% of the stake in ATRC, owning 1,279,520 shares worth 52.28 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ATRC since 7 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ATRC analysts setting a high price target of $90.00 and a low target of $50.00, the average target price over the next 12 months is $69.50. Based on these targets, ATRC could surge 98.76% to reach the target high and rise by 10.42% to reach the target low. Reaching the average price target will result in a growth of 53.49% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ATRC will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of -$1.02 being high and -$1.21 being low. For ATRC, this leads to a yearly average estimate of -$1.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. AtriCure Inc. surprised analysts by -$0.01 when it reported -$0.33 EPS against a consensus estimate of -$0.32. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.26 and the low estimate is -$0.36. The average estimate for the next quarter is thus -$0.29.

Summary of Insider Activity:

Insiders traded ATRC stock several times over the past three months with 13 Buys and 1 Sells. In these transactions, 46,812 shares were bought while 3,203 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 34 over the past year. The total number of shares bought during that period was 268,042 while 194,689 shares were sold.

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