AtriCure, Inc. (ATRC) Stock Price & How to Invest
Last updated October 2026
Short answer
AtriCure (ATRC) is a Nasdaq-listed medical device company that sells surgical tools for treating atrial fibrillation, closing off the left atrial appendage, and freezing nerves to control post-surgical pain. You can buy the shares at any major US broker. At ~$59 the stock prices in steady mid-teens growth plus a payoff from two large clinical trials that have not yet reported.
ATRC stock price
As of 2026-10-28, AtriCure, Inc. (ATRC) last closed at $61.42, up 73.3% over the past year. Over the past 52 weeks it has traded between $25.86 and $61.51.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or AtriCure, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does AtriCure, Inc. (ATRC) do?
AtriCure, based in Mason, Ohio, makes devices that cardiac and thoracic surgeons use in the operating room. Its products fall into four franchises. Appendage management, led by the AtriClip family, closes off the left atrial appendage, the small pouch in the heart where most AF-related clots form, and is now the largest line at ~$64 million a quarter. Open ablation (the Isolator Synergy clamps and EnCompass clamp) lets surgeons create scar lines that block erratic electrical signals during open-heart surgery, and Isolator Synergy was the first FDA-approved device for persistent AF. Pain management, built around the cryoSPHERE probes, freezes intercostal nerves to reduce pain after chest surgery and is the fastest-growing franchise. Minimally invasive ablation, including the Hybrid AF Therapy combining surgical and catheter work, is the one line in decline.
Recent results show a company that has crossed into profitability. Full-year 2025 revenue was ~$534.5 million, up ~15%. In Q2 2026 revenue rose 12.8% to ~$153.6 million, with US sales of ~$125.6 million (up 13.6%) and international sales of ~$28.0 million (up 9.6%). Pain management grew ~27%, appendage management ~14% and open ablation ~11%, while minimally invasive ablation fell ~21% as electrophysiologists shift patients to pulsed field ablation (PFA) catheters. Gross margin widened ~270 basis points to ~77.2%, and the company earned net income of ~$9.0 million ($0.18 a share) against a loss a year earlier. Adjusted EBITDA jumped ~78% to ~$27.3 million. Management guided 2026 revenue to ~$602 million to $610 million and adjusted EBITDA to ~$85 million to $89 million.
The investment picture is a premium valuation on a business with real advantages and real open questions. The stock has roughly doubled from ~$28 in spring 2026 to ~$59 in late October, near its 52-week high of ~$61.70, which puts the market value around ~$3 billion and the price-to-sales ratio near ~5x trailing revenue. Bulls point to the LeAAPS and BoxX-NoAF trials, which could extend AtriClip and ablation to cardiac surgery patients who do not yet have AF, a far larger population than today's market. Skeptics point to PFA eroding the Hybrid business, a ~$260 million contract claim from former SentreHEART holders, and earnings that are still thin relative to the share price. Q3 2026 results are due in late October or early November.
What's driving AtriCure, Inc. (ATRC)?
1. AtriClip and the appendage franchise
Appendage management is AtriCure's engine, producing ~$64.0 million in Q2 2026, up ~14% and about 42% of total revenue. Surgeons place an AtriClip on the outside of the left atrial appendage during open-heart surgery or through small chest incisions, sealing it off without leaving metal in the bloodstream. The newer FLEX-Mini and PRO-Mini clips, which are smaller and easier to deploy, drove the latest US growth. Because AtriCure has a dominant share of surgical appendage closure and the clip carries strong gross margins, each additional percentage point of cardiac surgery penetration falls largely to the bottom line, which is a big part of why gross margin reached ~77%.
2. LeAAPS and BoxX-NoAF: expanding the patient pool
The largest long-term lever is clinical. LeAAPS enrolled 6,573 patients across 139 centers, completing enrollment in July 2025, and tests whether prophylactically clipping the appendage in cardiac surgery patients without diagnosed AF reduces ischemic stroke. Follow-up runs a minimum of five years. BoxX-NoAF, with up to 960 patients across 75 sites, tests whether a box lesion plus appendage exclusion reduces post-operative and later clinical AF; reports indicate enrollment could finish around year-end 2026 with data in 2027. If either trial is positive, guidelines could shift toward treating patients who are currently untreated, potentially multiplying the addressable surgical market. If either disappoints, much of the current valuation premium is at risk.
3. Pain management and cryoSPHERE
Pain management has become the growth surprise. Revenue reached ~$29.4 million in Q2 2026, up ~27% from ~$23.2 million, helped by the cryoSPHERE MAX probe. Cryoablation of intercostal nerves is used after thoracic surgery and procedures such as the Nuss repair for pectus excavatum, giving patients weeks of numbness that can reduce reliance on opioids. The franchise is now about 19% of sales, broadening AtriCure beyond cardiac surgery volumes and into thoracic and pediatric surgery. Sustaining this growth depends on surgeon adoption, hospital purchasing decisions and reimbursement, but it gives the company a second growth leg that is not tied to the AF debate.
4. Operating leverage and cash generation
For years AtriCure reinvested every dollar in trials and sales reps and reported losses. That has changed. Operating income was ~$9.7 million in Q2 2026 versus a ~$6.2 million loss a year earlier, and adjusted EBITDA guidance for 2026 of ~$85 million to $89 million implies a margin near ~14%, up from single digits in recent years. The company generated ~$21.6 million of cash in Q2 and ended June with ~$167.8 million of cash against ~$61 million of long-term debt, plus an undrawn asset-based credit line. If revenue keeps growing low-to-mid teens while spending grows more slowly, earnings could scale quickly from a small base, which is what the multiple assumes.
What are the risks to AtriCure, Inc. (ATRC)?
The most visible competitive risk is pulsed field ablation. PFA catheters from Boston Scientific, Medtronic and Johnson & Johnson have made catheter ablation faster and more effective, and AtriCure's minimally invasive ablation sales fell ~21% in Q2 2026 as Hybrid procedures declined. If PFA also pulls patients away from surgical ablation, or if catheter-based appendage devices like Watchman gain ground in surgical candidates, the core franchises could slow. Clinical risk is concentrated: LeAAPS and BoxX-NoAF are long, event-driven trials, and a neutral or negative result would undercut the expansion story the stock reflects. Legal risk includes a Delaware Court of Chancery suit by former SentreHEART securityholders, filed in February 2025, alleging breach of the merger agreement's milestone provisions and seeking up to ~$260 million; the company has not accrued for it. Valuation is a risk in itself: at ~5x sales and with 2026 GAAP EPS guided to only ~$0.05 to $0.13, small misses can move the stock sharply, as the ~13% one-day drop in February 2026 showed. Other factors include hospital capital budgets, reimbursement changes, international pricing, and insider selling near highs.
What is the AtriCure, Inc. (ATRC) forecast?
9 analysts publish price targets on ATRC, averaging $57.56 against a $58.97 price as of October 2026, or -2.4%. The published targets run from $36.00 to $68.00, a moderate spread, and the ratings split 7 buy, 3 hold, 0 sell. Over the last six months there have been 7 raises and 1 cut among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.
Read the full ATRC forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.
Is ATRC a buy or a sell?
We give no verdict on AtriCure, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. AtriClip and the appendage franchise. Appendage management is AtriCure's engine, producing ~$64.0 million in Q2 2026, up ~14% and about 42% of total revenue. The most optimistic published target, $68.00, assumes this works close to its best case.
The case against. The most visible competitive risk is pulsed field ablation. The most pessimistic target, $36.00, is roughly what ATRC is worth if this bites instead.
Read the full bull and bear case on ATRC, including what would have to change to break either one. Walnut is not an investment adviser.
How is AtriCure, Inc. (ATRC) valued? (approximate, October 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see AtriCure, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$570 million (FY2025 ~$534.5M; Q2 2026 ~$153.6M, up 12.8%)
- 2026 revenue guidance: ~$602 million to $610 million (~13% to 14% growth)
- Gross margin: ~77.2% in Q2 2026, up ~270 bps YoY
- Adjusted EBITDA: ~$27.3M in Q2 2026; 2026 guide ~$85M to $89M
- Market cap and price/sales: ~$3 billion at ~$59 a share; ~5x trailing sales
- Cash and debt: ~$168M cash vs ~$61M long-term debt (June 30, 2026)
AtriCure is valued as a growth franchise, not on current earnings. With 2026 adjusted EPS guided to ~$0.24 to $0.32 and GAAP EPS to ~$0.05 to $0.13, a price-earnings ratio is not very informative, so investors tend to look at sales and EBITDA multiples. At ~5x trailing sales and roughly 30x the midpoint of 2026 adjusted EBITDA guidance, the stock trades well above the medical equipment average of under 3x sales. That premium reflects ~77% gross margins, a dominant surgical appendage share and trial optionality. Figures are approximate as of October 2026.
Who competes with AtriCure, Inc. (ATRC)?
Catheter ablation and PFA leaders
Boston Scientific (Farapulse), Medtronic (PulseSelect, Affera) and Johnson & Johnson MedTech (Varipulse, Biosense Webster) dominate electrophysiology. Their pulsed field catheters are why AtriCure's Hybrid business is shrinking, and they compete for the same AF patients from the catheter lab rather than the operating room.
Left atrial appendage occlusion
Boston Scientific's Watchman and Abbott's Amulet seal the appendage from inside the heart through a catheter, mostly in patients not having surgery. They are a different procedure from the AtriClip, but trial data, such as surgical candidates opting for a catheter approach, could shift where appendage closure happens.
Post-surgical pain control
In pain management cryoSPHERE competes with Pacira BioSciences, which sells the Exparel long-acting anesthetic and the iovera cryoneurolysis device, plus regional nerve blocks, epidurals and opioids. Hospitals weigh device cost and operating time against length of stay and opioid reduction when choosing between them.
What stocks are similar to AtriCure, Inc. (ATRC)?
Other names that sit close to ATRC: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in AtriCure, Inc. (ATRC)
There are three common ways to get ATRC exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so ATRC sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where ATRC fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on AtriCure, Inc. (ATRC)
AtriCure is a profitable, ~13% grower with a near-monopoly in surgical appendage clips, but at ~5x sales the stock is leaning on trial readouts and on holding off pulsed field ablation.
More on AtriCure, Inc. (ATRC)
Whether ATRC is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ATRC a buy or a sell?, and where the stock could go from here in the ATRC stock forecast.
For income investors, whether ATRC pays a dividend and how the payout looks is covered in does ATRC pay a dividend? And to weigh ATRC against a peer, read the full side-by-side comparisons: ATRC vs BSX and ATRC vs MDT.
Wondering how ATRC fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in AtriCure, Inc. with AI
Connect the broker you already use and ask Walnut's AI how ATRC fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What does AtriCure do?
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AtriCure designs and sells surgical devices used mainly by cardiac and thoracic surgeons. Its AtriClip system closes off the left atrial appendage, where most stroke-causing clots in atrial fibrillation form. Its Isolator Synergy and EnCompass clamps create ablation lines that block the erratic electrical signals behind AF, typically during open-heart surgery, and its Hybrid AF Therapy combines a minimally invasive surgical step with catheter ablation. Its cryoSPHERE probes freeze intercostal nerves to reduce pain after chest surgery. The company is based in Mason, Ohio, sells mostly in the US (about 82% of Q2 2026 revenue), and expects ~$602 million to $610 million of revenue in 2026. Its customers are hospitals, and its sales force works directly with surgeons, so growth depends on training and adoption as much as on product launches.
How can I invest in AtriCure stock?
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AtriCure trades on the Nasdaq under the ticker ATRC, so its shares are available at virtually every US brokerage, including apps that offer fractional shares. Indirect exposure comes through medical device and small or mid-cap healthcare ETFs that hold ATRC, though in those funds it is usually a small weight next to larger names. Before investing, many people review the latest 10-Q, the quarterly earnings release and call, and the progress of the LeAAPS and BoxX-NoAF trials, since those drive most of the debate. Walnut is not an investment adviser; this describes how the stock can be accessed, not whether it suits any particular portfolio. AtriCure does not pay a dividend, so any return on the shares comes from price changes, and the stock has historically moved sharply around earnings and trial news.
Is AtriCure profitable?
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It has recently turned profitable. In Q2 2026 AtriCure reported net income of ~$9.0 million, or $0.18 a share, compared with a ~$6.2 million loss a year earlier, and operating income of ~$9.7 million. Adjusted EBITDA rose ~78% to ~$27.3 million. For the full year 2026 the company guides to GAAP EPS of ~$0.05 to $0.13 and adjusted EPS of ~$0.24 to $0.32, so profits are real but still small relative to revenue of over $600 million. The improvement comes from ~77% gross margins and operating costs growing more slowly than sales. Q2 also produced ~$21.6 million of cash, and the balance sheet held ~$168 million of cash. Whether profits keep scaling depends largely on how much the company spends on trials and sales expansion.
Why did ATRC stock rise so much in 2026?
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The shares climbed from roughly $28 in the spring to around $59 by late October, touching a 52-week high near $61.70 in September. Several things lined up. Results showed a clear profitability inflection, with Q2 net income replacing a prior-year loss and adjusted EBITDA guidance raised to ~$85 million to $89 million. Revenue growth held near 13% despite the decline in the Hybrid ablation business. Management also said its two big trials were progressing faster than expected, and analysts lifted targets, with some into the mid-$60s. The rally has pushed the valuation to ~5x sales, which raises the bar for upcoming quarters and trial updates. A February 2026 drop of ~13% in one day is a reminder that sentiment can reverse quickly when guidance or a quarter disappoints.
What is the LeAAPS trial and why does it matter?
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LeAAPS (Left Atrial Appendage Exclusion for Prophylactic Stroke Reduction) is a randomized trial of 6,573 patients at 139 centers testing whether clipping the appendage with AtriClip during cardiac surgery prevents ischemic stroke in patients who do not have diagnosed AF but are at risk. Enrollment finished in July 2025, and the protocol requires at least five years of follow-up. It matters because AtriClip today is used mainly in surgical patients who already have AF. A positive result could support adding the clip to a much larger share of the hundreds of thousands of cardiac surgeries performed each year, which would substantially enlarge AtriCure's market. The flip side is timing: results depend on accumulating stroke events, so a definitive readout may take years, and an underwhelming result would weigh on the growth case.
How does pulsed field ablation affect AtriCure?
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Pulsed field ablation uses short electrical pulses instead of heat or cold to destroy heart tissue, and catheter systems from Boston Scientific, Medtronic and Johnson & Johnson have spread quickly since approval. For AtriCure the impact so far is concentrated in minimally invasive ablation, which fell ~21% to ~$8.1 million in Q2 2026 as electrophysiologists treat more persistent AF patients with catheters alone rather than referring them for Hybrid procedures. That franchise is now only about 5% of sales. Open-heart ablation and appendage clips, used when a patient is already in surgery, have kept growing. AtriCure also holds an exclusive license to co-develop and commercialize equipment using PFA technology, with up to ~$28 million of milestone payments through 2034, which gives it a route to use the same energy source in its own products.
What legal risks does AtriCure face?
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The main disclosed case was filed in February 2025 in the Delaware Court of Chancery by the representative of former SentreHEART securityholders. AtriCure bought SentreHEART, maker of the LARIAT appendage device, in 2019 under a merger agreement that included contingent payments for PMA approval and reimbursement milestones. The amended complaint alleges breach of contract and of the implied covenant of good faith, and reports put the damages sought at up to ~$260 million. AtriCure has not accrued a liability because it does not view a loss as probable. The remaining reimbursement milestone window expires December 31, 2026. This is a commercial dispute, not a securities fraud case, but an adverse ruling or settlement could be material against a market value of ~$3 billion.
Who are AtriCure's main competitors?
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AtriCure faces different rivals in each franchise. In AF ablation the large electrophysiology companies, Boston Scientific, Medtronic and Johnson & Johnson MedTech, sell catheter systems, including pulsed field devices, that treat many of the same patients without surgery. In appendage closure, Boston Scientific's Watchman and Abbott's Amulet are catheter-delivered implants used mostly in non-surgical patients, while AtriCure holds the leading position in surgical clips. In pain management, Pacira BioSciences (Exparel and the iovera cryoneurolysis device) and conventional nerve blocks and opioids compete with cryoSPHERE. AtriCure's edge is its focus on the operating room and its surgeon relationships, rather than scale. Its rivals are far larger companies with broad cardiology portfolios, which gives them more bargaining power with hospital purchasing departments.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with AtriCure, Inc.'s investor relations page or your broker before making investment decisions.