AtriCure (ATRC) – Research Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for AtriCure (NASDAQ: ATRC):

• 10/30/2024 – AtriCure had its price target raised by analysts at JPMorgan Chase & Co. from $30.00 to $40.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – AtriCure had its price target raised by analysts at Oppenheimer Holdings Inc. from $32.00 to $36.00. They now have an “outperform” rating on the stock.
• 10/30/2024 – AtriCure had its price target raised by analysts at Canaccord Genuity Group Inc. from $49.00 to $53.00. They now have a “buy” rating on the stock.
• 10/30/2024 – AtriCure had its price target raised by analysts at UBS Group AG from $35.00 to $40.00. They now have a “buy” rating on the stock.
• 10/30/2024 – AtriCure had its price target raised by analysts at Needham & Company LLC from $34.00 to $40.00. They now have a “buy” rating on the stock.

AtriCure Stock Performance

Shares of ATRC opened at $34.72 on Tuesday. The firm’s 50 day moving average is $30.08 and its 200-day moving average is $25.43. The stock has a market capitalization of $1.69 billion, a P/E ratio of -41.83 and a beta of 1.41. 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, Inc. has a 12-month low of $18.94 and a 12-month high of $43.00.

AtriCure (NASDAQ:ATRC) last released its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. The business had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. AtriCure had a negative net margin of 8.70% and a negative return on equity of 8.12%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) earnings per share. Equities research analysts anticipate that AtriCure, Inc. will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its position in shares of AtriCure by 4.0% in the second quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after acquiring an additional 517 shares in the last quarter. ProShare Advisors LLC grew its position in AtriCure by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after purchasing an additional 659 shares in the last quarter. Bank of Montreal Can grew its position in AtriCure by 4.0% during the second quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock valued at $488,000 after purchasing an additional 831 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in AtriCure during the third quarter valued at approximately $28,000. Finally, Comerica Bank grew its position in AtriCure by 70.5% during the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 1,043 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

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.