JPMorgan Chase & Co. Reaffirms Overweight Rating for AtriCure (NASDAQ:ATRC)

AtriCure (NASDAQ:ATRC)‘s stock had its “overweight” rating restated by research analysts at JPMorgan Chase & Co. in a report released on Tuesday, Marketbeat Ratings reports. They currently have a $40.00 price target on the medical device company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 32.23% from the company’s current price.

A number of other equities analysts also recently commented on ATRC. Canaccord Genuity Group boosted their price objective on shares of AtriCure from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Oppenheimer upped their price target on shares of AtriCure from $32.00 to $36.00 and gave the company an “outperform” 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 report on Saturday, September 14th. UBS Group upped their target price on AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC raised 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, October 30th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and an average price target of $42.00.

AtriCure Trading Down 4.0 %

Shares of NASDAQ ATRC opened at $30.25 on Tuesday. The stock has a market capitalization of $1.47 billion, a P/E ratio of -36.45 and a beta of 1.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59. The business’s 50 day moving average is $33.11 and its two-hundred day moving average is $27.38. AtriCure has a 1-year low of $18.94 and a 1-year high of $39.04.

AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Tuesday, October 29th. The medical device company reported ($0.17) 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 company had revenue of $115.91 million for the quarter, compared to the consensus estimate of $112.23 million. During the same period in the prior year, the firm posted ($0.20) EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. As a group, research analysts expect that AtriCure will post -0.72 EPS for the current year.

Institutional Trading of AtriCure

A number of hedge funds have recently bought and sold shares of ATRC. Panagora Asset Management Inc. raised its position in shares of AtriCure by 8.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 309,547 shares of the medical device company’s stock valued at $7,048,000 after buying an additional 23,436 shares during the period. HighMark Wealth Management LLC increased its position in shares of AtriCure by 664.1% during the 2nd quarter. HighMark Wealth Management LLC now owns 69,725 shares of the medical device company’s stock worth $1,588,000 after purchasing an additional 60,600 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of AtriCure by 0.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 380,720 shares of the medical device company’s stock worth $8,669,000 after purchasing an additional 2,898 shares during the last quarter. Rhumbline Advisers lifted its position in AtriCure by 3.7% in the second quarter. Rhumbline Advisers now owns 72,936 shares of the medical device company’s stock valued at $1,661,000 after buying an additional 2,577 shares during the last quarter. Finally, Fiera Capital Corp boosted its stake in AtriCure by 1.1% during the second quarter. Fiera Capital Corp now owns 918,207 shares of the medical device company’s stock worth $20,908,000 after buying an additional 10,432 shares during the period. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Company Profile

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.