AtriCure (NASDAQ:ATRC) Price Target Raised to $36.00

AtriCure (NASDAQ:ATRC) had its price objective increased by research analysts at Oppenheimer from $32.00 to $36.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the medical device company’s stock. Oppenheimer’s price objective indicates a potential upside of 0.59% from the company’s current price.

A number of other analysts have also recently issued reports on ATRC. Stifel Nicolaus lowered their price objective on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC raised their price objective on AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group raised their target price on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. BTIG Research reduced their price objective on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, AtriCure presently has an average rating of “Moderate Buy” and an average price target of $42.67.

AtriCure Stock Up 21.6 %

AtriCure stock traded up $6.36 during trading on Wednesday, reaching $35.79. The stock had a trading volume of 1,447,486 shares, compared to its average volume of 725,634. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.00. The stock has a market cap of $1.70 billion, a PE ratio of -44.74 and a beta of 1.44. The business has a 50 day moving average price of $27.46 and a 200 day moving average price of $24.30.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.39% and a negative net margin of 9.33%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.20) earnings per share. On average, analysts predict that AtriCure will post -0.77 EPS for the current year.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the transaction, the director now directly owns 8,970 shares in the company, valued at $215,907.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI acquired a new position in AtriCure in the third quarter valued at approximately $28,000. Comerica Bank increased its stake in shares of AtriCure by 70.5% in the 1st quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares in the last quarter. Quest Partners LLC boosted its position in AtriCure by 38.3% during the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after purchasing an additional 1,626 shares in the last quarter. nVerses Capital LLC increased its holdings in AtriCure by 733.3% in the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its holdings in AtriCure by 32.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after purchasing an additional 2,368 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells 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, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.