AtriCure, Inc. (NASDAQ:ATRC) Given Average Rating of “Buy” by Analysts

Shares of AtriCure, Inc. (NASDAQ:ATRC) have been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $42.00.

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group boosted their target price on AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Oppenheimer boosted their price objective on AtriCure from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com raised AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. JPMorgan Chase & Co. lifted their target price on AtriCure from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their price target on shares of AtriCure from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th.

Hedge Funds Weigh In On AtriCure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Canada Pension Plan Investment Board raised its stake in AtriCure by 187.7% in 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 purchasing an additional 72,200 shares in the last quarter. Atom Investors LP bought a new position in shares of AtriCure in the 3rd quarter worth $1,741,000. Renaissance Technologies LLC raised its position in shares of AtriCure by 12.8% during the 2nd 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of AtriCure during the 3rd quarter worth $488,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in AtriCure by 31.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock worth $14,038,000 after acquiring an additional 119,929 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

AtriCure Stock Down 3.4 %

Shares of NASDAQ ATRC opened at $31.67 on Friday. The company’s 50 day moving average price is $32.93 and its 200-day moving average price is $27.21. 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 has a 52-week low of $18.94 and a 52-week high of $39.04. The company has a market capitalization of $1.54 billion, a P/E ratio of -38.16 and a beta of 1.40.

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