AtriCure (NASDAQ:ATRC) Given New $40.00 Price Target at Needham & Company LLC

AtriCure (NASDAQ:ATRC) had its price objective increased by Needham & Company LLC from $34.00 to $40.00 in a research report sent to investors on Wednesday, Benzinga reports. Needham & Company LLC currently has a buy rating on the medical device company’s stock.

ATRC has been the topic of several other research reports. JPMorgan Chase & Co. lowered their price target on AtriCure from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Piper Sandler lowered their price target on AtriCure from $65.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. BTIG Research lowered their price target on AtriCure from $58.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Stifel Nicolaus lowered their price target on AtriCure from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

AtriCure Stock Up 1.0 %

Shares of NASDAQ ATRC opened at $33.51 on Wednesday. AtriCure has a 52 week low of $18.94 and a 52 week high of $43.00. The business has a 50-day simple moving average of $28.02 and a two-hundred day simple moving average of $24.52. The company has a quick ratio of 2.93, a current ratio of 4.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.63 billion, a P/E ratio of -40.37 and a beta of 1.44.

AtriCure (NASDAQ:ATRC) last issued its earnings results on Tuesday, October 29th. The medical device company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. AtriCure had a negative return on equity of 8.14% and a negative net margin of 8.70%. The business had revenue of $115.91 million during the quarter, compared to the consensus estimate of $112.23 million. During the same quarter last year, the company earned ($0.20) EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Research analysts anticipate that AtriCure will post -0.77 earnings per share for the current fiscal year.

Insider Activity at AtriCure

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

Hedge Funds Weigh In On AtriCure

Large investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board increased its stake in AtriCure by 187.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 110,669 shares of the medical device company’s stock worth $2,520,000 after purchasing an additional 72,200 shares during the period. Kennedy Capital Management LLC increased its stake in AtriCure by 115.5% in the 1st quarter. Kennedy Capital Management LLC now owns 227,193 shares of the medical device company’s stock worth $6,911,000 after purchasing an additional 121,752 shares during the period. Renaissance Technologies LLC increased its stake in AtriCure by 12.8% in the 2nd quarter. Renaissance Technologies LLC now owns 171,700 shares of the medical device company’s stock worth $3,910,000 after purchasing an additional 19,500 shares during the period. SG Americas Securities LLC purchased a new position in AtriCure in the 3rd quarter worth approximately $488,000. Finally, Orion Portfolio Solutions LLC increased its stake in AtriCure by 26.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 68,121 shares of the medical device company’s stock worth $2,072,000 after purchasing an additional 14,360 shares during the period. 99.11% of the stock is owned by hedge funds and other 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.