AtriCure’s (ATRC) “Overweight” Rating Reiterated at JPMorgan Chase & Co.

AtriCure (NASDAQ:ATRC)‘s stock had its “overweight” rating reissued by JPMorgan Chase & Co. in a research report issued on Tuesday,Benzinga reports. They currently have a $40.00 target price on the medical device company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 26.82% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. UBS Group boosted their target price on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC lifted their price target on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Oppenheimer lifted their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

AtriCure Stock Performance

Shares of NASDAQ:ATRC opened at $31.54 on Tuesday. The company’s 50 day simple moving average is $32.93 and its 200 day simple moving average is $27.25. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -38.00 and a beta of 1.40. 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 1 year low of $18.94 and a 1 year high of $39.04.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $115.91 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) earnings per share. As a group, research analysts predict that AtriCure will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in AtriCure by 0.9% during the third quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock worth $1,569,000 after purchasing an additional 484 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 32,676 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in AtriCure in the third quarter valued at about $614,000. Wellington Management Group LLP boosted its stake in 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 acquiring an additional 6,045 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in AtriCure by 14.6% in the third quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after acquiring an additional 84,700 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.