AtriCure (NASDAQ:ATRC) Reaches New 52-Week High – Should You Buy?

AtriCure, Inc. (NASDAQ:ATRC) reached a new 52-week high during trading on Wednesday . The company traded as high as $42.25 and last traded at $42.10, with a volume of 489823 shares changing hands. The stock had previously closed at $40.84.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ATRC shares. Canaccord Genuity Group boosted their price target on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $40.00 price objective on shares of AtriCure in a research note on Tuesday, December 17th. UBS Group upped their target price 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. Oppenheimer lifted their price target on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC upped their price objective on AtriCure from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.38.

AtriCure Stock Performance

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 business has a 50 day moving average price of $34.41 and a 200 day moving average price of $29.90. The stock has a market cap of $2.05 billion, a P/E ratio of -50.72 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $112.23 million. During the same quarter in the prior year, the company posted ($0.20) EPS. AtriCure’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts expect that AtriCure, Inc. will post -0.75 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATRC. State Street Corp boosted its position 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 valued at $37,710,000 after buying an additional 63,002 shares during the period. Geode Capital Management LLC boosted its holdings in shares of AtriCure by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after purchasing an additional 32,676 shares during the period. Atom Investors LP purchased a new stake in shares of AtriCure in the third quarter valued at approximately $1,741,000. SG Americas Securities LLC bought a new position in AtriCure in the third quarter worth approximately $488,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in AtriCure by 31.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock worth $14,038,000 after purchasing an additional 119,929 shares during the period. 99.11% of the stock is currently owned by 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.