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

AtriCure, Inc. (NASDAQ:ATRC) has received an average rating of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $42.00.

A number of research firms have commented on ATRC. Oppenheimer upped their price target on AtriCure from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC increased their target price on shares of AtriCure from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of AtriCure from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, December 9th. UBS Group increased their price objective on shares of AtriCure from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com raised shares of AtriCure from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th.

Hedge Funds Weigh In On AtriCure

Institutional investors have recently made changes to their positions in the stock. Hood River Capital Management LLC acquired a new stake in AtriCure in the 2nd quarter valued at $40,422,000. First Light Asset Management LLC grew its holdings in shares of AtriCure by 42.1% during the second quarter. First Light Asset Management LLC now owns 1,964,703 shares of the medical device company’s stock valued at $44,736,000 after buying an additional 581,843 shares during the last quarter. Millennium Management LLC increased its position in shares of AtriCure by 132.5% during the second quarter. Millennium Management LLC now owns 952,765 shares of the medical device company’s stock worth $21,694,000 after acquiring an additional 543,023 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of AtriCure by 151.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock worth $6,425,000 after acquiring an additional 138,046 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in AtriCure by 31.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 500,649 shares of the medical device company’s stock valued at $14,038,000 after acquiring an additional 119,929 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

AtriCure Stock Performance

Shares of ATRC stock opened at $33.66 on Thursday. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -40.55 and a beta of 1.42. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $33.88 and its 200-day moving average price is $28.33. AtriCure has a 12 month low of $18.94 and a 12 month high of $39.04.

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

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.