AtriCure, Inc. (NASDAQ:ATRC) Receives $42.00 Consensus PT from Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has received an average rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.00.

Several equities research analysts have recently commented on the stock. Oppenheimer raised their target price on shares of AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $40.00 price objective on shares of AtriCure in a report on Tuesday, December 17th. Needham & Company LLC upped their target price on AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, UBS Group upped their price target on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

AtriCure Trading Down 6.7 %

ATRC opened at $31.41 on Thursday. AtriCure has a one year low of $18.94 and a one year high of $39.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The business has a 50 day simple moving average of $33.82 and a two-hundred day simple moving average of $28.52. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -37.84 and a beta of 1.42.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The company had revenue of $115.91 million during the quarter, compared to the consensus estimate of $112.23 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Analysts predict that AtriCure will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board increased its holdings in shares of AtriCure by 187.7% during the second quarter. Canada Pension Plan Investment Board now owns 110,669 shares of the medical device company’s stock valued at $2,520,000 after acquiring an additional 72,200 shares in the last quarter. State Street Corp increased its stake in AtriCure by 4.9% during the 3rd quarter. State Street Corp now owns 1,344,856 shares of the medical device company’s stock valued at $37,710,000 after purchasing an additional 63,002 shares in the last quarter. Atom Investors LP purchased a new position in AtriCure in the third quarter worth about $1,741,000. Geode Capital Management LLC lifted its stake in shares of 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 worth $32,326,000 after buying an additional 32,676 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of AtriCure by 12.8% during the second quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock valued at $3,910,000 after buying an additional 19,500 shares during the last quarter. Hedge funds and other 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.