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

AtriCure (NASDAQ:ATRC) had its target price increased by Oppenheimer from $32.00 to $36.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the medical device company’s stock.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. raised their target price on AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group upped their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Needham & Company LLC increased their price target on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, BTIG Research lowered 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. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure Price Performance

Shares of NASDAQ ATRC opened at $33.51 on Wednesday. The firm has a 50-day simple moving average of $28.02 and a 200-day simple moving average of $24.51. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -40.37 and a beta of 1.44. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.00.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.14%. The company had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter in the prior year, the company earned ($0.20) EPS. AtriCure’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts predict that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total value of $84,245.00. Following the completion of the transaction, the director now owns 8,970 shares of the company’s stock, valued at $215,907.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board boosted its stake in shares of AtriCure by 187.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 110,669 shares of the medical device company’s stock valued at $2,520,000 after buying an additional 72,200 shares during the period. Kennedy Capital Management LLC raised its holdings in AtriCure by 115.5% in the first quarter. Kennedy Capital Management LLC now owns 227,193 shares of the medical device company’s stock valued at $6,911,000 after acquiring an additional 121,752 shares in the last quarter. Renaissance Technologies LLC lifted its stake in AtriCure by 12.8% in the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock worth $3,910,000 after acquiring an additional 19,500 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of AtriCure during the 3rd quarter worth $488,000. Finally, Orion Portfolio Solutions LLC increased its holdings in AtriCure by 26.7% in the first quarter. Orion Portfolio Solutions LLC now owns 68,121 shares of the medical device company’s stock valued at $2,072,000 after buying an additional 14,360 shares during the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.