AtriCure (NASDAQ:ATRC) Given New $40.00 Price Target at UBS Group

AtriCure (NASDAQ:ATRC) had its price objective upped by UBS Group from $35.00 to $40.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the medical device company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler reduced their price objective on shares of AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on shares of AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, BTIG Research reduced their price objective on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock 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 company’s stock. According to data from MarketBeat.com, AtriCure has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure Price Performance

ATRC opened at $33.51 on Wednesday. AtriCure has a one year low of $18.94 and a one year high of $43.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 2.93. The company’s 50 day simple moving average is $28.02 and its 200-day simple moving average is $24.52. The stock has a market capitalization of $1.63 billion, a P/E ratio of -40.37 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results 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 net margin of 8.70% and a negative return on equity of 8.14%. The business had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same period in the prior year, the firm earned ($0.20) earnings per share. AtriCure’s revenue was up 17.9% compared to the same quarter last year. Sell-side analysts anticipate that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Transactions at AtriCure

In other news, Director Maggie Yuen sold 3,500 shares of AtriCure stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the transaction, the director now directly owns 8,970 shares of the company’s stock, valued at $215,907.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On AtriCure

A number of hedge funds and other institutional investors have recently made changes to their positions in ATRC. Vanguard Group Inc. raised its holdings in shares of AtriCure by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 4,766,029 shares of the medical device company’s stock worth $170,100,000 after acquiring an additional 76,146 shares during the period. Norden Group LLC acquired a new stake in shares of AtriCure during the first quarter worth $440,000. Diversify Advisory Services LLC acquired a new stake in AtriCure in the 1st quarter valued at $258,000. GSA Capital Partners LLP increased its stake in AtriCure by 65.7% in the 1st quarter. GSA Capital Partners LLP now owns 35,813 shares of the medical device company’s stock valued at $1,089,000 after buying an additional 14,194 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in AtriCure by 17.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,462 shares of the medical device company’s stock valued at $318,000 after buying an additional 1,562 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.