AtriCure, Inc. (NASDAQ:ATRC) Given Consensus Recommendation of “Buy” by Brokerages

AtriCure, Inc. (NASDAQ:ATRC) has received an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $43.11.

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on AtriCure from $49.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. JPMorgan Chase & Co. upped their price target on shares of AtriCure from $30.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price objective 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. Finally, Needham & Company LLC boosted their target price on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th.

Institutional Trading of AtriCure

Several hedge funds and other institutional investors have recently modified their holdings of ATRC. Arizona State Retirement System increased its position in 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 purchasing an additional 517 shares during the last quarter. ProShare Advisors LLC raised its position in AtriCure by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,371 shares of the medical device company’s stock valued at $255,000 after acquiring an additional 659 shares in the last quarter. Bank of Montreal Can lifted its stake in AtriCure by 4.0% in the second 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 bought a new stake in AtriCure in the third quarter worth approximately $28,000. Finally, Comerica Bank grew its position in AtriCure by 70.5% in the first quarter. Comerica Bank now owns 2,522 shares of the medical device company’s stock worth $77,000 after acquiring an additional 1,043 shares in the last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

AtriCure Trading Up 4.7 %

Shares of NASDAQ:ATRC opened at $36.34 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.59 and a current ratio of 3.62. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -43.78 and a beta of 1.41. AtriCure has a 1-year low of $18.94 and a 1-year high of $43.00. The company has a 50 day moving average price of $30.24 and a 200 day moving average price of $25.52.

AtriCure (NASDAQ:ATRC) last released its quarterly earnings data on Tuesday, October 29th. The medical device company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. The business had revenue of $115.91 million during the quarter, compared to analyst estimates of $112.23 million. AtriCure had a negative return on equity of 8.12% and a negative net margin of 8.70%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company posted ($0.20) EPS. On average, research analysts anticipate that AtriCure will post -0.72 EPS for the current fiscal year.

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.