AtriCure, Inc. (NASDAQ:ATRC) Receives Average Rating of “Buy” from Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have received an average recommendation of “Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $42.00.

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

AtriCure Stock Performance

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

AtriCure (NASDAQ:ATRC) last posted its earnings results 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. The firm had revenue of $115.91 million during the quarter, compared to analysts’ expectations of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The company’s revenue 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. Analysts anticipate that AtriCure will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AtriCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its position in AtriCure by 3.7% in the second quarter. Rhumbline Advisers now owns 72,936 shares of the medical device company’s stock valued at $1,661,000 after acquiring an additional 2,577 shares during the period. Arizona State Retirement System boosted its position in AtriCure by 4.0% in the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock valued at $308,000 after buying an additional 517 shares in the last quarter. Quest Partners LLC grew its stake 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 buying an additional 1,626 shares during the last quarter. Renaissance Technologies LLC grew its stake in AtriCure by 12.8% during the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock worth $3,910,000 after buying an additional 19,500 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of AtriCure by 73.5% in the second quarter. Hsbc Holdings PLC now owns 102,610 shares of the medical device company’s stock valued at $2,380,000 after acquiring an additional 43,466 shares during the last quarter. 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.