AtriCure (NASDAQ:ATRC) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of AtriCure (NASDAQ:ATRC) in a research note released on Monday,Benzinga reports. The brokerage currently has a $40.00 price target on the medical device company’s stock.

A number of other research analysts also recently weighed in on the stock. 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 research report on Wednesday, October 30th. Oppenheimer upped their price target 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. Canaccord Genuity Group upped their price target 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. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $40.00 price target on shares of AtriCure in a research report on Tuesday, December 17th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

AtriCure Price Performance

NASDAQ:ATRC opened at $34.39 on Monday. The firm’s fifty day moving average is $33.83 and its two-hundred day moving average is $28.63. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -41.43 and a beta of 1.42. 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 quick ratio of 2.59 and a current ratio of 3.62.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $115.91 million during 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 company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. Research analysts expect that AtriCure will post -0.72 EPS for the current year.

Institutional Trading of AtriCure

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in AtriCure by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 56,843 shares of the medical device company’s stock valued at $1,569,000 after acquiring an additional 484 shares in the last quarter. Geode Capital Management LLC grew its stake in AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company’s stock valued at $32,326,000 after acquiring an additional 32,676 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of AtriCure in the 3rd quarter valued at approximately $614,000. Wellington Management Group LLP grew its stake in shares of AtriCure by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,543,896 shares of the medical device company’s stock valued at $43,291,000 after buying an additional 6,045 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of AtriCure by 14.6% in the 3rd quarter. Two Sigma Advisers LP now owns 664,100 shares of the medical device company’s stock valued at $18,621,000 after buying an additional 84,700 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

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.