AtriCure, Inc. (NASDAQ:ATRC) Given Average Rating of “Buy” by Brokerages

Shares of AtriCure, Inc. (NASDAQ:ATRC) have earned an average recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $43.11.

Several equities analysts have recently weighed in on ATRC shares. Oppenheimer lifted their price objective on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, BTIG Research lowered their price objective on shares of AtriCure from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Institutional Investors Weigh In On AtriCure

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hood River Capital Management LLC acquired a new position in shares of AtriCure in the 2nd quarter valued at $40,422,000. First Light Asset Management LLC increased its stake in shares of AtriCure by 42.1% in the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock worth $44,736,000 after purchasing an additional 581,843 shares during the period. Millennium Management LLC lifted its position in shares of AtriCure by 132.5% in the 2nd quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock worth $21,694,000 after acquiring an additional 543,023 shares during the period. Natixis bought a new stake in AtriCure in the first quarter valued at $9,126,000. Finally, Assenagon Asset Management S.A. increased its holdings in AtriCure by 151.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock valued at $6,425,000 after purchasing an additional 138,046 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

AtriCure Stock Up 0.2 %

Shares of NASDAQ ATRC opened at $35.74 on Wednesday. The firm’s 50-day moving average is $30.93 and its two-hundred day moving average is $25.90. The company has a market capitalization of $1.74 billion, a PE ratio of -43.05 and a beta of 1.41. AtriCure has a 12-month low of $18.94 and a 12-month high of $42.99. 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 (NASDAQ:ATRC) last posted its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping 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 return on equity of 8.12% and a negative net margin of 8.70%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. Equities analysts anticipate that AtriCure will post -0.72 EPS for the current fiscal year.

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.