AtriCure, Inc. (NASDAQ:ATRC) Receives $42.00 Average Price Target from Analysts

AtriCure, Inc. (NASDAQ:ATRC) has been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.00.

ATRC has been the subject of several analyst reports. Oppenheimer lifted their price target on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. restated an “overweight” rating and set a $40.00 target price on shares of AtriCure in a report on Tuesday, December 17th. UBS Group increased their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of AtriCure in a research report on Monday.

AtriCure Stock Up 9.5 %

Shares of NASDAQ:ATRC opened at $34.39 on Thursday. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.68 billion, a P/E ratio of -41.43 and a beta of 1.42. AtriCure has a 12 month low of $18.94 and a 12 month high of $39.04. The company’s 50-day moving average price is $33.83 and its two-hundred day moving average price is $28.63.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The company had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same period last year, the firm earned ($0.20) EPS. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, research analysts forecast that AtriCure will post -0.72 EPS for the current fiscal year.

Institutional Trading of AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in shares of AtriCure by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock valued at $1,569,000 after acquiring an additional 484 shares in the last quarter. Arizona State Retirement System grew its position in shares of AtriCure by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock valued at $308,000 after acquiring an additional 517 shares during the period. Bank of Montreal Can raised its holdings in shares of AtriCure by 4.0% in the 2nd quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock valued at $488,000 after purchasing an additional 831 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in AtriCure in the 3rd quarter valued at about $28,000. Finally, The Manufacturers Life Insurance Company grew its holdings in AtriCure by 6.1% during the second quarter. The Manufacturers Life Insurance Company now owns 24,919 shares of the medical device company’s stock worth $567,000 after purchasing an additional 1,429 shares during the period. 99.11% of the stock is currently 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.