Analysts Set AtriCure, Inc. (NASDAQ:ATRC) PT at $43.11

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $43.11.

A number of brokerages have commented on ATRC. Oppenheimer increased their price objective on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. BTIG Research reduced their target price on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Needham & Company LLC increased their target price on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th.

Institutional Trading of AtriCure

Several hedge funds have recently added to or reduced their stakes in ATRC. Geode Capital Management LLC increased its stake in shares of AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock worth $32,326,000 after purchasing an additional 32,676 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of AtriCure in the third quarter valued at $614,000. Wellington Management Group LLP raised its stake in shares of AtriCure by 0.4% in the third quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after buying an additional 6,045 shares during the period. Two Sigma Advisers LP grew its stake in shares of AtriCure by 14.6% during the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock worth $18,621,000 after acquiring an additional 84,700 shares during the period. Finally, State Street Corp increased its holdings in AtriCure by 4.9% in the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock worth $37,710,000 after acquiring an additional 63,002 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Stock Performance

NASDAQ ATRC opened at $35.74 on Wednesday. The company has a market cap of $1.74 billion, a P/E ratio of -42.99 and a beta of 1.41. The company has a fifty day simple moving average of $30.78 and a 200 day simple moving average of $25.77. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. AtriCure has a 12-month low of $18.94 and a 12-month high of $42.99.

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

About AtriCure

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.