JPMorgan Chase & Co. Reaffirms “Overweight” Rating for AtriCure (NASDAQ:ATRC)

JPMorgan Chase & Co. reiterated their overweight rating on shares of AtriCure (NASDAQ:ATRC) in a research report released on Tuesday morning, Marketbeat.com reports. They currently have a $40.00 target price on the medical device company’s stock.

Several other research analysts have also issued reports on the company. Oppenheimer increased their target price on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their target price 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. 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 report on Wednesday, October 30th. UBS Group upped their price objective on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, AtriCure has a consensus rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Price Performance

ATRC stock opened at $30.05 on Tuesday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -36.20 and a beta of 1.40. The firm’s 50-day moving average price is $33.23 and its two-hundred day moving average price is $27.41. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. AtriCure has a 12-month low of $18.94 and a 12-month high of $39.04.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share 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 8.12%. The business had revenue of $115.91 million for the quarter, compared to analysts’ expectations of $112.23 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts predict that AtriCure will post -0.72 earnings per share for the current year.

Institutional Trading of AtriCure

Institutional investors and hedge funds have recently modified their holdings of the business. Arcadia Investment Management Corp MI purchased a new stake in shares of AtriCure during the third quarter valued at $28,000. nVerses Capital LLC grew its holdings in shares of AtriCure by 733.3% in the third quarter. nVerses Capital LLC now owns 5,000 shares of the medical device company’s stock worth $140,000 after acquiring an additional 4,400 shares during the period. Quest Partners LLC increased its position in AtriCure by 38.3% during the second quarter. Quest Partners LLC now owns 5,868 shares of the medical device company’s stock valued at $134,000 after acquiring an additional 1,626 shares during the last quarter. Captrust Financial Advisors bought a new position in AtriCure in the third quarter valued at about $230,000. Finally, Mount Yale Investment Advisors LLC lifted its holdings in AtriCure by 32.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 9,743 shares of the medical device company’s stock valued at $222,000 after acquiring an additional 2,368 shares during the period. Institutional investors own 99.11% of the company’s stock.

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.