AtriCure (NASDAQ:ATRC) Given Overweight Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of AtriCure (NASDAQ:ATRC) in a report released on Tuesday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has a $40.00 target price on the medical device company’s stock.

Other research analysts also recently issued reports about the stock. UBS Group boosted their price objective 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. StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Needham & Company LLC increased their price objective on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer boosted their target price on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their target price on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.00.

AtriCure Price Performance

Shares of NASDAQ:ATRC opened at $31.50 on Tuesday. The company has a market cap of $1.54 billion, a P/E ratio of -38.11 and a beta of 1.40. The company’s fifty day moving average is $33.02 and its two-hundred day moving average is $27.31. The company has a quick ratio of 2.59, a current ratio of 3.62 and a debt-to-equity ratio of 0.13. AtriCure has a 12-month low of $18.94 and a 12-month high of $39.04.

AtriCure (NASDAQ:ATRC) last posted its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share 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 firm had revenue of $115.91 million for the quarter, compared to analyst estimates of $112.23 million. During the same period in the previous year, the firm earned ($0.20) earnings per share. AtriCure’s quarterly revenue was up 17.9% on a year-over-year basis. Equities analysts expect that AtriCure will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI bought a new stake in AtriCure during the third quarter worth approximately $28,000. Quest Partners LLC lifted its stake in shares of AtriCure by 38.3% in the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock worth $134,000 after buying an additional 1,626 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of AtriCure by 733.3% during the 3rd quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after buying an additional 4,400 shares during the period. Mount Yale Investment Advisors LLC grew its stake in AtriCure by 32.1% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after buying an additional 2,368 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in AtriCure in the 3rd quarter worth $230,000. 99.11% of the stock is owned by institutional investors.

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.