Oppenheimer Increases AtriCure (NASDAQ:ATRC) Price Target to $36.00

AtriCure (NASDAQ:ATRC) had its price objective hoisted by equities research analysts at Oppenheimer from $32.00 to $36.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical device company’s stock. Oppenheimer’s price target would indicate a potential upside of 8.50% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC increased their price objective on shares of AtriCure from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research dropped their price target on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. UBS Group boosted their price objective on AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus dropped their target price on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AtriCure currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure Price Performance

Shares of ATRC opened at $33.18 on Wednesday. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.00. The company has a current ratio of 4.13, a quick ratio of 2.93 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -39.98 and a beta of 1.44. The stock has a 50 day moving average of $27.68 and a 200-day moving average of $24.37.

AtriCure (NASDAQ:ATRC) last released 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 the consensus estimate of $112.23 million. AtriCure had a negative net margin of 9.33% and a negative return on equity of 8.39%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.20) earnings per share. As a group, analysts forecast that AtriCure will post -0.77 EPS for the current year.

Insider Activity at AtriCure

In other AtriCure news, Director Maggie Yuen sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $24.07, for a total transaction of $84,245.00. Following the sale, the director now directly owns 8,970 shares in the company, valued at approximately $215,907.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AtriCure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Arizona State Retirement System raised its stake in shares of AtriCure by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 13,542 shares of the medical device company’s stock worth $308,000 after buying an additional 517 shares in the last quarter. ProShare Advisors LLC raised its position in AtriCure by 8.5% in the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock worth $255,000 after acquiring an additional 659 shares in the last quarter. Bank of Montreal Can lifted its holdings in AtriCure by 4.0% in the 2nd quarter. Bank of Montreal Can now owns 21,441 shares of the medical device company’s stock valued at $488,000 after acquiring an additional 831 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in AtriCure in the 3rd quarter valued at about $28,000. Finally, Comerica Bank boosted its position in shares of AtriCure by 70.5% during the 1st 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 institutional investors.

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.