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AtriCure Inc(ATRC)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
2-STAR RATING
Consider higher Upturn Star rating
BUY for 60 days
PROFIT SINCE LAST BUY
+83.64% ▲
LAST CLOSE
$58.38
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for ATRC

09/25/2026: ATRC (2-star) has a low Upturn Star Rating. Not recommended to BUY.

AtriCure Inc is a specialized medical device company that develops surgical solutions for atrial fibrillation and left atrial appendage management. The company has a leading position in surgical ablation, supported by a strong physician training model and documented clinical evidence. Its primary investment story centers on the continued penetration of its AtriClip system and the growth of its cardiac surgery technologies. However, the company faces risks from competing catheter-based technologies and the inherent challenges of growing as a specialized medical device firm. AtriCure may suit growth-oriented investors looking for exposure to surgical innovation, while those concerned with valuation or volatility should monitor clinical data readouts and competitive market shifts.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fitThe company targets high-growth segments in cardiac surgery with specialized, innovative technology.
Momentum investorMixed fitMomentum is conditional on positive clinical data readouts and consistent quarterly revenue outperformance.
Value investorWeak fitThe company is typically priced for growth rather than traditional value metrics like P/E ratios.
Dividend investorWeak fitAtriCure does not pay a dividend, prioritizing reinvestment in product development.
Low-risk investorWeak fitSmall-cap medtech stocks often exhibit high volatility related to clinical trials and regulatory outcomes.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighAs a smaller player in the medtech space, the stock is prone to sharp swings based on earnings and clinical results.
Valuation riskMedium / highInvestors often pay a premium for growth, which can lead to corrections if growth targets are missed.
Competition risk (Medtronic/Abbott)HighLarger competitors with greater resources can influence market access and physician behavior.
Business qualityMediumThe company possesses strong, specialized technology, though it lacks the broad diversification of industry giants.
Dividend incomeLow / noneInvestors receive no current income from dividends.
Execution riskMediumSuccessfully managing large-scale clinical trials and commercializing new products is execution-intensive.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit -13.36%
Avg. Invested days 29
Today’s Advisory Consider higher Upturn Star rating
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
ATRC receives a 3-star rating, supported by solid company fundamentals. The rating is constrained by soft unit economics, and limited analyst upside.

Company Fundamentals

★★★★★
ATRC has solid overall fundamentals (4 stars), with moderate financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, strong earnings growth (+74.4%) and solid cash generation (FCF margin 9.0%) are partially offset by soft profitability (net margin -2.1%), modest insider ownership of 3.77%.

Financial Health Rating

★★★★★
ATRC's financial health is supported by solid liquidity, including working-capital and asset support (WC/assets 36.8%). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Free-cash-flow growth is ATRC's strongest growth driver at +529.0% FY2025 versus FY2024 (strong, 5 stars). Revenue growth (+14.9%, solid) and earnings growth (+74.4%, strong) are also constructive, though not equally high across every growth measure.

Ownership

★★★★★
Institutional ownership is 105.6% and approximately 96.0% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 3.77% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 7.95%
Wellington Management Company LLP 6.87%
AllianceBernstein L.P. 6.41%
Hood River Capital Management LLC 6.13%
Vanguard Portfolio Management, LLC 5.31%

Unit Economics (Per $1K Revenue)

★★★★★
ATRC generates approximately $744 of gross profit, $-6 of operating income, and $90 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: -12.64% (Tax Credit)

Quantitative Style Profile

★★★★★
ATRC has a liquid profile. Valuation that is moderately attractive rather than deeply discounted is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 3.09B USD
Price to earnings Ratio 289.38
1Y Target Price 53.33
Price to earnings Ratio 289.38
1Y Target Price 53.33
Volume (30-day avg) 1.3M shares
Beta 1.26
52 Weeks Range 25.36 - 61.70
Updated Date 09/24/2026
52 Weeks Range 25.36 - 61.70
Updated Date 09/24/2026
Dividends yield (FY) -
Basic EPS (TTM) 0.21

How Company Makes Money

Business areaWhat it includesRetail investor read
Cardiac AblationRadiofrequency and cryoablation devices used in open-heart and minimally invasive surgeries.Revenue is driven by the sale of disposable devices used during every procedure.
Appendage ManagementAtriClip and related products to treat the left atrial appendage.This is a recurring revenue driver as surgeons adopt the procedure for stroke prevention.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 289.38
Forward PE 232.56
Enterprise Value 2.95B
Price to Sales(TTM) 5.43
Enterprise Value 2.95B
Price to Sales(TTM) 5.43
Enterprise Value to Revenue 5.08
Enterprise Value to EBITDA 75.06
Shares Outstanding 50.87M
Shares Floating 48.82M
Shares Outstanding 50.87M
Shares Floating 48.82M
Percent Insiders 3.77
Percent Institutions 105.58

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About AtriCure Inc

Exchange NASDAQ
Headquarters Mason, OH, United States
IPO Launch date 2005-08-05
CEO, President & Director Mr. Michael H. Carrel
Sector Healthcare
Industry Medical Instruments & Supplies
Full time employees 1350
Full time employees 1350

AtriCure, Inc. engages in the development, manufacture, and sale of devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, the Asia-Pacific, and internationally. It offers Isolator Synergy Ablation System clamps, a single-use disposable radio frequency products; multifunctional pens and linear ablation devices, a single-use disposable RF products for the treatment of cardiac arrhythmias; cryoICE Cryoablation System that enables the user to make linear ablations of varied lengths; and EPi-Sense Systems, a single-use disposable device used for the treatment of symptomatic, drug-refractory, and long-standing persistent atrial fibrillation. It also provides cryoSPHERE probe, which provides temporary pain relief by applying cryothermic energy to targeted intercoastal peripheral nerves in the ribcage; AtriClip System, an implantable device coupled to a single-use disposable applier; cryoXT probes, a cryoablation device designed specifically for Cryo Nerve Block therapy; LARIAT System, a solution for soft-tissue closure; Lumitip dissectors to separate tissues to provide access to key anatomical structures that are targeted for ablation; Glidepath guides for placement of clamps; and Subtle Cannula's to support access for EPi-Sense catheters. In addition, the company sells various reusable cardiac surgery instruments. It markets and sells its products through independent distributors and direct sales personnel. The company was incorporated in 2000 and is headquartered in Mason, Ohio.